Spencer v. Underhill

Defendant Underhill was an insurance agent, appointed by plaintiff Spencer, general agent of the Security Mutual Life Insurance' Company. ’The other defendants are sureties on bonds given by Underhill to plaintiff and the company. The action is on the bonds. On trial before the court, plaintiff had judgment against Underhill for $2,168.67, admittedly owing. But the sureties had judgment of no cause of action. Plaintiff reviews the. latter judgment.

The bonds secure Underhill’s engagement to account for and pay to' plaintiff and the company all moneys belonging to them respectively, “including…