American Surety Co. v. Blake

Plaintiff, American Surety Company of New York, appellant, brought this action to recover upon an indemnity agreement executed by defendant J. W. Blake and P. H. Blake, then stockholders, and president and cashier, respectively, of Fidelity State Bank of Orofino, in consideration of plaintiff’s execution of a bond for the bank as a state depository. The bank became insolvent upon April 8, 1921, and plaintiff, upon July 2, 1921, paid the state of Idaho $1,291.40, which it seeks to recover.

P. H. Blake having died, a claim was presented against his estate prior to decree of distribution but more…