National Surety Corp. v. Ladd

W. G. Turner died testate in Tarrant County, and W. T. Ladd and B. H. Martin, named as coexecutors under Turner’s will, qualified as such coexecutors, with the National Surety Company as surety on their bond in the sum of $40,000.00. Thereafter the National Surety Corporation, by virtue of a contract made with the National Surety Company, assumed liability as surety under the executors’ bond. This occurred in 1933.

In 1934 the National Surety Corporation filed its petition in the Probate Court of Tarrant County to be relieved from further liability on the bond. The petition alleged that it…