Mutual Building & Savings Ass'n v. American Surety Co.

The complaint in substance alleges that on December 24, 1925, in consideration of the payment by the plaintiff to the defendant of a certain premium, the defendant agreed to indemnify the plaintiff and any bank or banks in which it carried a deposit account subject to check, as the respective interests may appear, for the period of twelve months against direct loss through the payment by the plaintiff, or any such bank, of any check which shall have been drawn by the plaintiff against such bank and upon which the name of the payee or of any person, firm, or corporation as indorser thereof…