(Download) "Hartford Accident & Indemnity Co. v. Gurney P. Hood" by Supreme Court of North Carolina # eBook PDF Kindle ePub Free
eBook details
- Title: Hartford Accident & Indemnity Co. v. Gurney P. Hood
- Author : Supreme Court of North Carolina
- Release Date : January 20, 1946
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 68 KB
Description
The primary issue between plaintiff and defendant is clearly drawn. The plaintiff contends that its bond is for a single penalty of $10,000 which is the limit of the recovery which may be had against it for any and all defalcations occurring during the life of the bond, to wit, from 15 July, 1929, to 3 February, 1942. The defendant contends that the original bond assured against defalcation during the succeeding year and each renewal constitutes a new bond, so that he is entitled to recover losses arising out of the defalcation of the cashier during each bond year, not to exceed $10,000 for any one year. If plaintiffs contention is sustained, defendant is entitled to judgment in the sum of $10,000. On the other hand, if the defendants construction of the contract is adopted he is entitled to judgment in the amount of $81,731.18, unless he is estopped by the conduct of the bank or is barred in whole or in part by the statute of limitations.