Lieberman v. First National Bank
Court of Chancery of Delaware
Bill for Injunction by the Surety in the Bond of an Officer of a Bank.—The complainant was surety in two bonds of Peter T. E. Smith, given to the defendant bank, to secure the faithful performance of his duties as paying teller. The first bond was dated Nov. 1, 1879, for $15,000.00 and on February 24, 1893, judgment was entered thereon against the complainant and his co-sureties.
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Bill for Injunction by the Surety in the Bond of an Officer of a Bank.—The complainant was surety in two bonds of Peter T. E. Smith, given to the defendant bank, to secure the faithful performance of his duties as paying teller. The first bond was dated Nov. 1, 1879, for $15,000.00 and on February 24, 1893, judgment was entered thereon against the complainant and his co-sureties. Prior to the execution of this bond it was in proof that complainant then a large depositor in the bank consulted the cashier, with respect to the risk of becoming surety for Smith, and was by him assured that the…
1Opinion of the Court
The Chancellor—
This is a bill in equity by one of the sureties on the official bond of Peter T. E. Smith, late paying teller of the First National Bank of the City of Wilmington, to restrain the bank from proceeding at law to collect from the complainant any of certain defalcations of the said Smith committed while paying teller of the said bank.'
The bonds bore date respectively November 1, 1879, and July 6, 1885. The complainant was one of the sureties in each bond, his co-sureties on the first bond being John Sparks, Christian Messick and Joshua Maris, and on the second bond John Sparks and…
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