Legal Opinion
In re Stratton
District Court, S.D. California
Decided December 17, 1943No. 39606PublishedCited by 2 opinions
1Opinion of the Court
J. F. T. O’CONNOR, District Judge.
The principal question presented on review from the Referee in Bankruptcy is: Can a surety, 'having paid certain claims under its bond given to a contractor who later is adjudged a bankrupt, participate in dividends on its allowed claim from the estate of the contractor before the creditors of the class covered by the bond are paid in full? The answer is no.
The contractors obtained from the American Surety Company, as surety, a laborers and materialmen, statutory form of bond for the State of California as required by the law, “to benefit of persons who…
2Cases cited9 opinions
- Prudence Realization Corp. v. GeistSupreme Court of the United States · 1942
- Meyers v. Bank of America National Trust and Savings Ass'nCalifornia Supreme Court · 1938
- American Surety Co. v. Westinghouse Electric Manufacturing Co.Supreme Court of the United States · 1935
- United States v. National Surety Co.Supreme Court of the United States · 1920
- Jenkins v. National Surety Co.Supreme Court of the United States · 1928
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3Cited by2 opinions
- American Surety Co. of NY v. SampsellSupreme Court of the United States · 1946
- American Surety Co. v. SampsellCourt of Appeals for the Ninth Circuit · 1945