Trustees of Schools v. Hammond

Mr. Presiding Justice Barry

delivered the opinion of the court.

Appellee filed a bill to reform a township treasurer’s bond and to recover the amount due thereon. Appellant was surety on the bond and a decree was rendered reforming the bond and requiring appellant to pay $28,526.05.

Appellant contends that it was relieved from liability because appellee designated the Merchants State Bank as a depository and the loss was occasioned by the failure of that bank. Appellee had no power or authority to select a depository and relieve the treasurer or his surety from liability for money lost through…