Dexter Horton National Bank v. United States Fidelity & Guaranty Co.

Plaintiff, a national banking corporation, instituted this action against defendant upon a “Bankers’ Blanket Forgery and Alteration Policy,” whereby defendant, for value, agreed to indemnify plaintiff against direct loss sustained by it, not exceeding the penalty of the bond, arising, inter alia, through payment by plaintiff of any check drawn upon it upon which the signature of any endorser shall have been forged, and also against direct loss sustained through the cashing by plaintiff of any check or draft, drawn upon any bank, which shall bear the forged signature of any depositor of…