United States Fidelity Co. v. United States Nat. Bank
Oregon Supreme Court
From Lane: George F. Skipworth, Judge. Department 1. Statement by Mr. Justice Burnett. This is an action by the United States Fidelity & Guaranty Company, a Corporation, against the United States National Bank of Eugene, Oregon.
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From Lane: George F. Skipworth, Judge. Department 1. Statement by Mr. Justice Burnett. This is an action by the United States Fidelity & Guaranty Company, a Corporation, against the United States National Bank of Eugene, Oregon. The following are the facts: In March and April, 1913, and afterward until his removal from that trust, James M. Bridges was the duly appointed, qualified and acting guardian of the persons and estates of his two minor children, Mildred and Gladys Bridges. The plaintiff was his surety on the usual statutory bond in the sum of $1,000. As such guardian,-Bridges…
1Opinion of the CourtJustice Bubnett
1. Having, as surety, paid to the new guardian the amount of its principal’s defalcation, the plaintiff is subrogated to all the rights of the trustee to whom the payment was made, for the purpose of reimbursing its loss; so that, if the last guardian had-been entitled to call upon the defendant to pay the balance of the guardian account with it, the plaintiff may do so itself by virtue of the subrogation. This is true as a matter of law, and in this instance is placed beyond controversy by the assignment mentioned. No *365contention is urged on this point. It rests upon a well-recognized…
2Cases cited8 opinions
- National Bank v. Insurance Co.Supreme Court of the United States · 1881
- Interstate National Bank v. ClaxtonTexas Supreme Court · 1904
- Munnerlyn v. Augusta Savings BankSupreme Court of Georgia · 1891
- Coleman v. First National BankTexas Supreme Court · 1901
- Batchelder v. Central National BankMassachusetts Supreme Judicial Court · 1905
3 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- American Surety Co. v. Bank of CaliforniaCourt of Appeals for the Ninth Circuit · 1943
- American Surety Co. v. Multnomah CountyOregon Supreme Court · 1943
- Ohio Casualty Insurance v. MallisonOregon Supreme Court · 1960
- First National Bank v. ConnollyOregon Supreme Court · 1942
- Cole v. Canadian Bank of CommerceOregon Supreme Court · 1925
8 more not listed; retrieve them via the Exa API.