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B. CONSTANTINO & SONS CO. v. NEW AMSTERDAM CAS. CO.

No. 11592.

234 F.2d 902 (1956)

B. CONSTANTINO AND SONS CO., Plaintiff-Appellee, v. NEW AMSTERDAM CASUALTY COMPANY, Defendant-Appellant.

United States Court of Appeals Seventh Circuit.

July 3, 1956.

Attorney(s) appearing for the Case

George B. Gillespie, Louis F. Gillespie and Frederick H. Stone, Springfield, Ill., Gillespie, Burke & Gillespie, Springfield, Ill., of counsel, for appellant.

A. M. Fitzgerald and Walter T. Day, Springfield, Ill., for appellee.

Before FINNEGAN, SWAIM and SCHNACKENBERG, Circuit Judges.

FINNEGAN, Circuit Judge.

In its "Blanket Position Bond," dated January 6, 1949, issued by New Amsterdam Casualty Company to its assured plaintiff, there is this critical language:

"Section 14. At the earliest practical moment, and at all events not later than fifteen days after discovery of any fraudulent or dishonest act on the part of any Employee by the Insured, or by any partner or officer thereof not in collusion with such Employee, the Insured...

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