Tucker v. Gant

DAVISON, V.C.J.

This is an action wherein plaintiffs seek to recover from defendant, as cosurety, his proportionate part of the joint loss paid by plaintiffs. The facts are stipulated.

One Wolverton, in order to engage in business as a securities dealer, was required by statute to make a $5,000 surety bond. The bond was executed by a surety company, only after the execution of a contract, whereby defendant and the four original plaintiffs herein jointly and severally agreed to save said surety harmless from every claim, demand and liability growing out of the execution of the statutory bond.…