National Aniline & Chemical Co. v. American Credit Indemnity Co.

Citations

• 228 Pa. 588
• 77 A. 920
• 1910 Pa. LEXIS 531

Syllabus

<p>Principal and surety — Indemnity bond — Construction.</p> <p>Where the bond of a credit indemnity company provides that “in case this company issues to the indemnified a new bond prior to the expiration of this one, losses occurring during the term of the new bond on sales of merchandise shipped within the twelve months immediately prior to the expiration of this bond shall be covered and may be proven under this new bond, subject to its provisions and limitations, the same as though the goods had been shipped during its term,” and a new bond is so issued, there can be no recovery for loss occurring during the pendency of the second bond on goods sold during the pendency of the first to a class of purchasers included in the old bond but excluded by the provisions of the new.</p>