Legal Opinion
The Citizens State Bank, Hartford City, Indiana v. Transamerica Insurance Company
Court of Appeals for the Seventh Circuit
Decided November 29, 1971No. 18969PublishedCited by 18 opinions
1Opinion of the Court
SPRECHER, Circuit Judge.
The question posed by this diversity case 1 is whether a bank employee’s seemingly profitless and motiveless act assertedly causing a loss to the bank was “dishonest” under the terms of a blanket bond.
Transamerica Insurance Company (Transamerica), in consideration of an agreed premium, issued its Bankers’ Blanket Bond, effective April 19, 1968, wherein it undertook to indemnify the Citizens State Bank, Hartford City, Indiana (Citizens), to an amount not exceeding $400,000 “from and against any losses sustained and discovered as hereinafter set forth.” 2 Seven…
2Cases cited15 opinions
- Pennsylvania Co. v. DolanIndiana Court of Appeals · 1892
- Irvin Jacobs & Co. v. Fidelity & Deposit Co. Of MarylandCourt of Appeals for the Seventh Circuit · 1953
- World Exchange Bank v. Commercial Casualty InsuranceNew York Court of Appeals · 1930
- National Surety Co. v. WilliamsSupreme Court of Florida · 1917
- Citizens' Trust & Guaranty Co. v. Globe & Rutgers Fire Ins.Court of Appeals for the Fourth Circuit · 1915
10 more not listed; retrieve them via the Exa API.
3Cited by18 opinions
- First National Bank Co. v. Insurance Co. of North AmericaCourt of Appeals for the Seventh Circuit · 1979
- Nat'l Newark & Essex Bank v. American Insurance Co.Supreme Court of New Jersey · 1978
- Central National Life Insurance Company v. Fidelity and Deposit Company of Maryland, in No. 78-1768, in No. 78-1769 v. Louis K. Risken and C. Ritchey Smiley, Third Party in No. 78-1768, in No. 78-1769Court of Appeals for the Third Circuit · 1980
- First National Bank Company Of Clinton, Illinois v. Insurance Company Of North AmericaCourt of Appeals for the First Circuit · 1979
- Fidelity & Casualty Co. of New York v. Central Bank of HoustonCourt of Appeals of Texas · 1984
13 more not listed; retrieve them via the Exa API.