Fidelity & Deposit Co. of Maryland v. Lyon

Opinion of the Court by

Judge Fulton

Affirming.

This appeal is prosecuted from a judgment against appellant in the sum of $1,827.35 on a banker’s blanket bond No. R-228756 executed by it to the First National Bank of Paintsville, Kentucky, which included securing the honesty of one J. Hobart Meade.

The question is one of construction of the terms and legal effect of the bond, as the facts appear in the record by a stipulation in substance as follows:

On March 30, 1931, the National Surety Company executed a banker’s blanket bond to the Paintsville National Bank, covering defalcation by any emplee.…