Legal Opinion
Fidelity Trust Co. v. American Surety Co. of New York
District Court, W.D. Pennsylvania
Decided January 21, 1959No. Civ. A. No. 16959PublishedCited by 3 opinions
1Opinion of the Court
SORG, District Judge.
This is an action brought by plaintiff .as the insured under a Bankers Blanket Bond issued by defendants as sureties to recover losses sustained by it as the •result of a series of loan transactions.
From February 2, 1956 through April 18, 1956, plaintiff made a series of loans to Re-Ly-On Products Company, each of which was evidenced by a promissory note signed, with a few exceptions, in the company, name by Alex L. Josselson, its president. Each loan was secured by a written assignment of accounts receivable signed, with three exceptions, in the company name, by…
2Cases cited3 opinions
- Fitzgibbons Boiler Co. v. Employers' Liability Assur. Corp.Court of Appeals for the Second Circuit · 1939
- Security National Bank of Durand v. Fidelity and Casualty Company of New YorkCourt of Appeals for the Seventh Circuit · 1957
- Metropolitan Nat. Bank of Minneapolis v. National Surety Co.District Court, D. Minnesota · 1931
3Cited by3 opinions
- Fidelity Trust Company v. American Surety Company of New York and Hartford Accident and Indemnity CompanyCourt of Appeals for the Third Circuit · 1959
- Prudential Capital Corp. v. Royal Indemnity Co.Appellate Division of the Supreme Court of the State of New York · 1964
- State Bank of Kenmore v. Hanover InsuranceNew York Supreme Court · 1965