Legal Opinion
National City Bank v. St. Paul Fire & Marine Insurance Co.
Court of Appeals of Minnesota
Decided March 17, 1989No. C6-88-1378PublishedCited by 4 opinions
1Opinion of the Court
OPINION
FOLEY, Judge.
National City Bank appeals from the April 6, 1988 declaratory judgment dismissing with prejudice its claim against respondent St. Paul Fire and Marine Insurance Company for indemnification under a bankers blanket bond. National City’s claim arises as a result of loss incurred from a loan default secured by fake stock certificates. St. Paul noticed review on that portion of the trial court’s judgment holding the condition precedent, i.e., the requirement that the bank have actual physical possession of the securities before making the loan, did not bar recovery. We affirm…
2Cases cited15 opinions
- Bergholm v. Peoria Life Ins. Co.Supreme Court of the United States · 1932
- Atwater Creamery Co. v. Western National Mutual Insurance Co.Supreme Court of Minnesota · 1985
- Bobich v. OjaSupreme Court of Minnesota · 1960
- State Bank of Poplar Bluff v. Maryland Casualty CompanyCourt of Appeals for the Eighth Circuit · 1961
- The Exchange National Bank of Olean v. Insurance Company of North AmericaCourt of Appeals for the Second Circuit · 1965
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3Cited by4 opinions
- National City Bank of Minneapolis v. St. Paul Fire & Marine Insurance Co.Supreme Court of Minnesota · 1989
- St. Paul Fire & Marine Insurance v. Federal Deposit InsuranceDistrict Court, D. Minnesota · 1991
- St. Paul Fire and Marine Ins. Co. v. MetPath, Inc.District Court, D. Minnesota · 1999
- Empire State Bank of Cottonwood v. St. Paul Fire & Marine Insurance Co.Court of Appeals of Minnesota · 1989