Guarantee Co. of North America v. Pitts

Citations

• 78 Miss. 837

Syllabus

<p>Guarantee Company. Application. Suretyship. Contract. Evidence. Receipts of others. Public policy. Principal and agent.</p> <p>A stipulation in an application to a guarantee company to become surety for the applicant’s faithful performance of duty as agent for another, that, in consideration thereof, the applicant agrees to protect and indemnify the company from any loss it might sustain in consequence, and would admit the receipts to the company for payments made on his account to his principal, to be conclusive evidence (except for fraud) of the fact and extent of his liability to the company, is reasonable, binding-, and not against public policy.</p>