Fidelity & Deposit Co. v. Kane

*649Opinion op the Court jby

Judge Hurt

Reversing.

In 1905, the American Bonding Company, became the surety of R. J. Young, in a bond, executed by him to the Peoples Bank, at Bardwell, and by which the Bonding Company insured the bank against any loss, which it might suffer from larceny or embezzlement, at the hands of Young, who was then an employee of the bank, as its cashier, between the first day of July, 1905, and the first day of July, 1906. The bond, however, provided, that it should not lapse, at the end of the year, if it was continued in force by a renewal receipt, executed by the Bonding…