National Surety Corp. v. Toale

The defendant was employed by the Burche Company from July 12, 1939, to October 31,1939, in the capacity of an accountant or controller. As part of his duties he was charged with the receipt of certain funds and deposit of same to the credit of his employer. Shortages totaling $668.12 are alleged to have occurred in his accounts and claim was made by the employer-obligee of an indemnity bond executed by the plaintiff. The plaintiff as surety paid such amount to the employer and thereafter sought reimbursement from the defendant in conformance with the terms of the latter’s agreement of…