Belleview Loan & Building Ass'n v. Jeckel
Court of Appeals of Kentucky
Case 21—COVENANT— APPEAL PROM CAMPBELL CIRCUIT COURT. 1. Surety can not withdraw in absence of statutory provision. Murfree on Official Bonds, sec. 776; 11 Wend., 28; 3 Houston (Del.), 474. 2. This was the rule at common law. Murfree on Official Bonds, secs. 776, 779. 3. Mere inaction of the obligee will not discharge surety; it must amount to fraud, or concealment.
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Case 21—COVENANT— APPEAL PROM CAMPBELL CIRCUIT COURT. 1. Surety can not withdraw in absence of statutory provision. Murfree on Official Bonds, sec. 776; 11 Wend., 28; 3 Houston (Del.), 474. 2. This was the rule at common law. Murfree on Official Bonds, secs. 776, 779. 3. Mere inaction of the obligee will not discharge surety; it must amount to fraud, or concealment. Watertown, &c., Co. v. Simmons, 131 Mass., 85; see also, 43 N. J. L., 70; 3 Houst., 474; 59 la., 591; 55 la., 571; 18 Wis., 667; 91 111., 518; 9 R. I., 168; Kerr on Fraud, p. 122; Magee v. Ins. Co., 2 Olto, 93. 4. Pleading…
1Opinion of the Court
JUDGE BURNAM
delivered the opinion oe the court.
Appellant alleges tliat it is a corporation; that on December 30, 1893, one Jeckel was duly elected as its treasurer for the term of one year, beginning on January C, 1894; that it was his duty to take charge of, and safely keep and account' for, all moneys belonging to the association; that for the faithful performance of his duties as treasurer he executed a bond with appellees as his security; and that he failed to account to it for the sum of $1,073,70, which came into his hands as treasurer, for which it asked judgment against appellees.
Appel…
2Cases cited2 opinions
- Graves v. Lebanon National BankCourt of Appeals of Kentucky · 1873
- Connecticut Mutual Life Ins. v. ScottCourt of Appeals of Kentucky · 1884
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