Holmes v. Elder

Petitioner Holmes recovered a judgment for $12,471.35 in the trial court, Circuit Judge Bond sitting for the chancellor by interchange, against Elder et al., as sureties on a bond for $20,000 executed in 1927 to secure the payment to petitioner of his deposits in the Gibson County Bank, principal on the bond. The Court of Appeals reversed and dismissed the bill, and this court granted certiorari and has heard argument.

When the bond was made, petitioner was serving his second term as clerk and master and he was reappointed in 1931. The bank failed in 1932. Although the bond did not express any…