Delaware State Bank v. Colton

Citations

• 102 Kan. 365
• 170 P. 992
• 1918 Kan. LEXIS 44

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Indemnity Bond — Against Fraud of Bank Cashier — Loss—Bond Construed — Proof Required. A surety bond indemnifying a bank against loss occasioned by the fraud or dishonesty of its cashier “amounting to embezzlement or larceny” is construed as intended to indemnify the bank from loss occasioned by the official’s fraud or dishonesty of the general character and nature usually involved therein and in an action on the bond the plaintiff may recover'without technical proof of fraudulent acts as required in criminal prosecutions for embezzlement or larceny.</p> <p>2. Same — “Immediate Notice” of Loss Not Given — Waiver. On the facts stated in the opinion, the failure of the plaintiff to give “immediate notice” of the loss, as provided in the bond, was waived by the conduct of the surety company in placing its denial of liability upon other distinct grounds.</p>