Farmers' & Merchants' State Bank v. United States Fidelity & Guaranty Co.
South Dakota Supreme Court
Appeal from Circuit Court, Brown County; Hon. J. H. McCoy, Judge. Action by the Farmers’ & Merchants’ State Bank of Verdón against the United States Fidelity & Guaranty Company. From a judgment for plaintiff, defendant appeals.
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Appeal from Circuit Court, Brown County; Hon. J. H. McCoy, Judge. Action by the Farmers’ & Merchants’ State Bank of Verdón against the United States Fidelity & Guaranty Company. From a judgment for plaintiff, defendant appeals. A change in the office or employment of the principal, after the issuance of the bond, especially where such change would ordinarily increase the risk contemplated, operates to release the surety; and it is no answer to say that the surety is not in fact prejudiced. Sun Life Ins. Co. v. U. S. Fidelity & Guaranty Co., 40 S. E. 975; First National Bank v. Gerke, 13 Atl.…
1Opinion of the Court
'HANEY, J.
This is an action on a fidelity insurance policy containing these, among other, recitals, conditions, and provisions: “Whereas, Farmers’ & Merchants’ State Bank, Verdón, S. Dak-, hereinafter called ‘the employer,’ is employing or intends to employ James PI. Carroll in the capacity of assistant cashier, hereinafter called ‘the employe,’ and has filed with the United States Fidelity & Guaranty Company, hereinafter called ‘the company,’ an application specifying the amount of security required from said employe, and has applied to the company for the grant of this bond; and whereas,…
2Cases cited7 opinions
- American Surety Company v. PaulySupreme Court of the United States · 1898
- National Mechanics' Banking Ass'n v. ConklingNew York Court of Appeals · 1882
- Reubens v. . JoelNew York Court of Appeals · 1856
- Fidelity & Casualty Co. v. Gate City National BankSupreme Court of Georgia · 1896
- First National Bank v. GerkeCourt of Appeals of Maryland · 1888
2 more not listed; retrieve them via the Exa API.
3Cited by21 opinions
- Three Garden Village Ltd. Partnership v. United States Fidelity & Guaranty Co.Court of Appeals of Maryland · 1989
- Phoenix Savings and Loan, Inc. v. The Aetna Casualty and Surety CompanyCourt of Appeals for the Fourth Circuit · 1970
- First National Bank of Crandon v. United States Fidelity & Guaranty Co.Wisconsin Supreme Court · 1912
- Fidelity & Deposit Co. v. Mattingly Lumber Co.Court of Appeals of Maryland · 1939
- Employer's Administrative Services, Inc. v. Hartford Accident & Indemnity Co.Court of Appeals of Arizona · 1985
16 more not listed; retrieve them via the Exa API.