American Bonding Co. of Baltimore v. Pueblo Inv. Co.
Court of Appeals for the Eighth Circuit
In Error to the Circuit Court of the United States for the District of Colorado. The American Bonding Company of Baltimore, a corporation, was a surety upon a bond of R. O. Miller and H. G. Raime, lessees, which was conditioned that they would perform the obligations by them assumed under the lease. They made default and a judgment was rendered against the surety, upon a directed verdict in the court below, for the sum of $10,000, the penalty of the bond.
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In Error to the Circuit Court of the United States for the District of Colorado. The American Bonding Company of Baltimore, a corporation, was a surety upon a bond of R. O. Miller and H. G. Raime, lessees, which was conditioned that they would perform the obligations by them assumed under the lease. They made default and a judgment was rendered against the surety, upon a directed verdict in the court below, for the sum of $10,000, the penalty of the bond. This writ of error was sued out to reverse that judgment. The lease was dated March 9, 1903. The Pueblo Investment Company, a corporation,…
1Opinion of the CourtSanborn, Circuit Judge
A surety who guaranties by his bond the performance by his principal of the latter’s contract with the obligee is bound for the fulfillment of no new or modified agreement, and any material alteration of the bonded contract without his consent releases him from liability for its fulfillment. The wrongful surrender by the obligee in the bond of security for the performances of the guarantied obligation, without the knowledge of the surety, discharges him from liabilty therefor entirely or pro tanto, according to the value of the security thus surrendered. Brown v. First National Bank, 66 C. C.…
2Cases cited49 opinions
- Hawkins v. United StatesSupreme Court of the United States · 1877
- O'BRIEN v. MillerSupreme Court of the United States · 1897
- Daniel Boardman and Others, in Error v. The Lessees of Reed and Ford, M'call and Others, in ErrorSupreme Court of the United States · 1832
- Salt Lake City v. SmithCourt of Appeals for the Eighth Circuit · 1900
- Canal Co. v. HillSupreme Court of the United States · 1872
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3Cited by72 opinions
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- Hartwig v. United StatesUnited States Court of Claims · 1973
- McPhee & McGinnity Co. v. Union Pac. R.Court of Appeals for the Eighth Circuit · 1907
- Camdenton Consolidated School District No. 6 Ex Rel. W. H. Powell Lumber Co. v. New York Casualty Co.Supreme Court of Missouri · 1937
- Benson v. Wal-Mart Stores East L.P.Court of Appeals for the First Circuit · 2021
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