Claim on a statutory Motor Vehicle Dealer's Bond. Surety was exonerated by reason of release of bond principal.
Pacific Southern Mortgage Trust v. INA
Court of Appeal ruled on "loss" definition.
Claim on a fidelity bond. The case involved the definition of "loss" under the bond definition.
USLife v. National Surety Corporation
Summary judgment granted for bonding company. Affirmed on appeal.
Claim of loss by reason of dishonesty under a fidelity policy. Facts were known before policy went into effect, except for unsupported allegations of bribery. Case established that when facts were known determined discovery of "loss" under a Savings and Loan Blanket Bond.