A Treatise On the Law of Fidelity Bonds With Special Reference to Corporate Fi
A Treatise On the Law of Fidelity Bonds With Special Reference to Corporate Fi
M Barratt Milton Barratt Walker
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Were appointed agents and gave bond with sureties conditioned against loss through neglect, carelessness, theft or fraud of A. And E. , or either of them, or anyone to whom they may entrust the business of the obligee, and where a suit on said bond was defended on the ground that the bond secured the honesty of the firm only, and that before the embezzlement in question took place E. Had withdrawn from the firm, and that at the time of the alleged misappropriation the busi- ness of the agency w...as being carried on by A. And L. , it was held the sureties were not liable for the misappropria- tion by one of the members of such firm after the dissolu- tion of the partnership. Standard Oil Co. Vs. Arnestad, 6 'N. D. 255. Where a corporate fidelity bond Avas executed on behalf of an individual factor, who was a member of a firm which was imder contract with the obligee, and such contract was made known to the surety, and where said individual agreed to keep the funds of the obligee separate from any other 182 TllK LAW OK l\\)l:IA'VY liO.
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