Deitrick v. Standard Surety & Casualty Co.

The Boston-Continental National Bank, established in December 1930 through consolidation of Boston National Bank and Continental National Bank, became insolvent. December 17, 1931, a receiver appointed by the Comptroller of the Currency took charge of its affairs. Petitioner is his successor. Among the bank’s effects were four “Note-Guaranty” Bonds—$40,000, $52,000, $20,000 and $20,000—alike in form, dated in August and December 1930 and June and July 1931, with certain “endorsements” showing extensions. Each purported to be executed by the maker of a described note as principal with…