Duke v. National Surety Co.

Citations

• 130 Wash. 276
• 227 P. 2
• 1924 Wash. LEXIS 638

Syllabus

<p>Officers (53) — Principal and Surety (13-1) — Statutory Bond-Construction — Obligations Outside Statute. Construing a statutory bond of a compensated surety most strongly against the surety, and reading into it-the provisions of the statute, a bond to a bank conditioned as required by Rem. Comp. Stat., § 3239, for the “faithful and honest discharge of the employees’ duties,” is a statutory bond, where it' covers the exact matter, though not in the exact language of the statute; and it is immaterial that it also contains other matters having no relation to the statute going beyond but not limiting the statutory requirements.</p> <p>Principal and Surety (13-1) — Statutory Bond — Exceptions— Statutory Requirements. In such a case, an exception that the bond does not cover any loss which is the result of a .loan made by an employee unless made with intent to defraud, was intended to mean that it covered no loss suffered by the bank unless the loss was the result of an employee’s dishonesty or bad faith.</p> <p>Same (13-1) — Liability of Surety — Statutory Bond — Intent of Parties — -Evidence—Sufficiency. In such a case, a bond will be presumed to have been intended as a statutory bond, approved by the state bank examiner, on the presumption that the bank and the examiner were heedful of their duties, where it was the only bond taken by the bank to protect itself against the malfeasance of its officers, and was among its papers when various examinations were made and no objection to it was made by the state officials.</p> <p>Officers (53) — Bonds—Nature of Obligation. A bond given to a bank for the faithful discharge of the duties of its employees as required by Rem. Comp. Stat., § 3239, is a statutory bond, although not given by a public officer and not taken for the benefit of the general public.</p> <p>Principal and Surety (17) — Liability of Surety- — Losses Sustained. In a statutory bond given under Rem. Comp. Stat., § 3239, for the faithful and honest discharge