National Surety Corp. v. Federal Reserve Bank

This is a motion to strike out nine separate defenses in an answer. The complaint alleges that plaintiff insured the Mutual Life Insurance Company upon a so-called depositor’s forgery bond, by the terms of which plaintiff agreed to make good any loss the insured might incur by virtue of forgery and extended the coverage to include any bank or banks in which the insured had a deposit. The complaint goes on to allege that the insured suffered losses on some eighty-eight checks and drafts arising out of the forgery of the names of payees of these instruments by one of its employees. All of these…