Legal Opinion
Erie Trust Co. Bank v. Employers' Liability Assurance Corp. of London, Ltd.
Supreme Court of Pennsylvania
Decided March 23, 1936No. Appeal, 126PublishedCited by 17 opinions
1Opinion of the Court
Opinion by
Mr. Justice Stern,
Defendant issued to plaintiff bank a bond insuring tlie latter against “any loss through any dishonest or criminal act of any of the Employees.” Andrew J. Ignasiak, who was a teller in the bank, committed various acts of defalcation with a consequent loss to plaintiff of $20,-717.20. The defense to the present action to recover this loss was based on section 11 of the bond, which provides that: “This bond shall terminate as to any Employee— (a) as soon as the Insured shall learn of any default hereunder committed by such Employee. ...” Defendant contended that…
2Cases cited6 opinions
- Commonwealth v. Great American Indemnity Co.Supreme Court of Pennsylvania · 1933
- Herron ex rel. Murray v. StevensonSupreme Court of Pennsylvania · 1918
- Folz v. Tradesmen's Trust & Saving Fund Co.Supreme Court of Pennsylvania · 1902
- Pennsylvania Co. for Insurance on Lives & Granting Annuities v. SwainSupreme Court of Pennsylvania · 1899
- Universal Credit Co. v. United States Guarantee Co.Supreme Court of Pennsylvania · 1936
1 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- Prior Lake State Bank v. National Surety Corp.Supreme Court of Minnesota · 1957
- Hack v. American Surety Co. of New YorkCourt of Appeals for the Seventh Circuit · 1938
- Mechanicsville Trust & Savings Bank v. Hawkeye-Security Insurance Co.Supreme Court of Iowa · 1968
- Commonwealth ex rel. Fort Pitt Bridge Works v. Continental Casualty Co.Supreme Court of Pennsylvania · 1968
- Social Security Administration v. Employers Mutual Liability InsuranceCourt of Appeals of Maryland · 1964
12 more not listed; retrieve them via the Exa API.