United States Fidelity & Guaranty Co. v. Bank of Hattiesburg

Citations

• 128 Miss. 605
• 91 So. 344

Syllabus

<p>Indemnity. Indemnitor of surety on ’bond on appeal from justice of of the peace not released by execution of another bond on further appeal.</p> <p>A person who in order to induce another to become surety on an appeal and supersedeas bond of a judgment debtor in an appeal from a court of a justice of the peace to the circuit court signs an agreement by which he undertakes to indemnify and save such surety harmless against all demands, liabilities, charges, and expenses incurred by virtue of becoming such surety, and the trial of said cause in the circuit court results in a judgment against the judgment debtor and such surety, as principals, as is authorized by law, and thereupon such judgment debtor and surety appeal said cause to the supreme court on an appeal bond with supersedeas with other sureties, and said cause is affirmed by the supreme court, and said surety on said first appeal bond pays and satisfies such judgment, the said indemnitor is not released under his indemnity agreement from reimbursing said first surety, the indemnitee, by virtue of the giving of the said second appeal and supersedeas bond with other sureties.</p>