Ward v. Fidelity & Deposit Co.

(After stating the foregoing facts.) As will be seen from the above statement, J. C. Ward was principal on a bond to certain carriers, including a named railroad company, and the plaintiff deposit company was surety. There arose a liability under the bond amounting to $1,500, which the deposit company was about to pay, and the defendants J. C. Ward and E. L. Marchman executed the note sued on for the purpose of covering their resulting indebtedness to that company. The defendants alleged that “in settlement of said bond the bond was to be canceled and returned to defendant J. C. Ward;” and…