American Bonding Co. of Baltimore v. Richardson
Court of Appeals for the Sixth Circuit
Appeal from the District Court of the United States for the Western Division of the Southern District of Ohio; Howard C. Hollister, Judge. Suit by the American Bonding Company of Baltimore against Charles C. Richardson and another. Judgment for defendánts, and complainant appeals. James Buck and the defendant, Richardson, were trustees under the will of Job M. Nash, deceased. James Buck misappropriated and embezzled upwards of $50,000 of the trust funds.
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Appeal from the District Court of the United States for the Western Division of the Southern District of Ohio; Howard C. Hollister, Judge. Suit by the American Bonding Company of Baltimore against Charles C. Richardson and another. Judgment for defendánts, and complainant appeals. James Buck and the defendant, Richardson, were trustees under the will of Job M. Nash, deceased. James Buck misappropriated and embezzled upwards of $50,000 of the trust funds. The American Bonding Company of Baltimore (complainant) was the surety on Buck’s bond in the probate court of Hamilton county, Ohio, in the…
1Opinion of the CourtSessions, District Judge
(after stating the facts as above). The master’s findings of fact above set forth were approved and reaffirmed by the District Judge, are fully sustained by the evidence, and therefore, under .the well-settled rule, will be accepted and adopted by this court.
This suit is not brought by the beneficiaries of the trust, nor by any one in their behalf or in privity with them. On the contrary, the surety for hire úpon the separate bond of a defaulting trustee is seeking to recover for itself from a cotrustee, who has been guilty of no active wrongdoing, the amount of the defalcation upon the sole…
2Cases cited23 opinions
- King v. . TalbotNew York Court of Appeals · 1869
- Sturm v. BokerSupreme Court of the United States · 1893
- Ormiston v. . OlcottNew York Court of Appeals · 1881
- Spalding v. MasonSupreme Court of the United States · 1896
- Croft v. . WilliamsNew York Court of Appeals · 1882
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3Cited by5 opinions
- Redmond v. Commerce Trust Co.Court of Appeals for the Eighth Circuit · 1944
- Citizens Banking Co. v. Monticello State BankCourt of Appeals for the Eighth Circuit · 1944
- United States Ex Rel. Willoughby v. HowardSupreme Court of the United States · 1938
- Estate of WhitneyCalifornia Court of Appeal · 1932
- Burnham v. National Surety Co.California Court of Appeal · 1932