(Download) "Provident Trust Co. v. National Surety Corporation." by United States Court of Appeals for the Third Circuit * eBook PDF Kindle ePub Free
eBook details
- Title: Provident Trust Co. v. National Surety Corporation.
- Author : United States Court of Appeals for the Third Circuit
- Release Date : January 07, 1943
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 66 KB
Description
This appeal involves the construction of a so-called "Bankers Blanket Bond" issued by the defendant insurance company to the plaintiff bank. In that bond under Section D-5, as amended, coverage was provided for "any loss" "(5) through transferring or paying any money or funds or transferring or delivering any securities or establishing any credit on the faith of forged or altered written instructions or advices from any customer or from any banking institution, not including telegraphic, cable, radio or teletype instructions or advices." Under Section 2(a) the bond specifically did not cover "any loss effected directly or indirectly by means of forgery, except when covered by insuring clause (A) or (D)." Under Section 2(d), the bond did not cover "any loss resulting from any loan made by the Insured or by any of the Employees whether authorized or unauthorized, except when covered by insuring clause (A)." The insuring clause (A) referred to, has to do with loss through any dishonest, fraudulent or criminal act, if any, of the employees, etc. Admittedly there were no such acts involved here.
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