Citizens Bank v. Fidelity & Deposit Co. of Maryland

The ruling announced in the first note results • from a construction of the pertineiit clauses of the entire contract. The excerpts quoted are from paragraphs seven and eight of the contract, and follow immediately in the order indicated. The thing which the contract provided should be apportioned between the insured and the indemnitor was “any recovery.” The only right of recovery that either would have would be against the employee or his estate. Neither would have a right to “reimburse*582ment” as against a stranger. In tbe circumstances a voluntary ’payment to the insured by a stranger who…