Pearson v. United States Fidelity & Guaranty Co.
Supreme Court of Minnesota
Action by the superintendent of banks of the state of Minnesota in the district court for Hennepin county to recover $10,000 upon defendant’s bond to the Osseo State Bank of Osseo. The facts are stated in the opinion.
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Action by the superintendent of banks of the state of Minnesota in the district court for Hennepin county to recover $10,000 upon defendant’s bond to the Osseo State Bank of Osseo. The facts are stated in the opinion. The case was tried before Hale, J., who at the close of the testimony denied defendant’s motion for a directed verdict on the ground that it conclusively appeared plaintiff had such notice of the defalcation as would require him to notify the surety, an'd not being notified by the surety defendant was released, and a jury which returned a verdict for the amount demanded. From an…
1Opinion of the CourtHolt, J.
Defendant is a Maryland corporation engaged in the business of bonding or guaranteeing to employers the fidelity of their employees. In January, 1913, it issued its bond in the sum of $10,000 to the Osseo State Bank guaranteeing it for one year against pecuniary loss sustained by reason of the fraud or dishonesty of Joseph B. Thompson, its then assistant cashier. Each year thereafter the bond was continued in force by a renewal certificate, the last being dated January 3, 1915. In July, 1915, it was discovered that Thompson had embezzled large sums from the bank. The state superintendent of…
2Cases cited15 opinions
- Fidelity & Deposit Co. v. CourtneySupreme Court of the United States · 1902
- George A. Hormel & Co. v. American Bonding Co.Supreme Court of Minnesota · 1910
- American Bonding Co. v. MorrowSupreme Court of Arkansas · 1906
- Mayor of Brunswick v. HarveySupreme Court of Georgia · 1902
- Standard Salt & Cement Co. v. National Surety Co.Supreme Court of Minnesota · 1916
10 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- Town of Troy v. AMERICAN FIDELTY COMPANYSupreme Court of Vermont · 1958
- Nowell v. Mayor of MonroeSupreme Court of Georgia · 1933
- Leonard v. ætna Casualty & Surety Co.Court of Appeals for the Fourth Circuit · 1935
- American Indemnity Co. v. Mexia Independent School Dist.Court of Appeals of Texas · 1932
- Quinn-Shepherdson Co. v. United States Fidelity & Guaranty Co.Supreme Court of Minnesota · 1919
10 more not listed; retrieve them via the Exa API.