Bennett v. S. A. R. E. B. & L. Ass'n

Citations

• 57 Tex. 72
• 1 Tex. L. R. 99
• 1882 Tex. LEXIS 97

Syllabus

<p>1. Bond—Principad and surety.—The securities on.the bond of an officer of an incorporated company, for the faithful performance of his duties as such, are not relieved from liability on account of the fact that the officer was already a defaulter when the bond was given, provided the officers of the corporation had no knowledge of the defalcation. Mere negligence in the officers of the corporation in failing to detect the fraud will not relieve the securities.</p> <p>2. Case distinguished.— This case distinguished from Graves v. Lebanon National Bank, 10 Bush, overruled.</p>