BLACKMUN, Circuit Judge.
This diversity action is one whereby the plaintiff bank seeks to recover from its insurer the amount of a loss claimed to be compensable under a "Bankers Blanket Bond".
There is no real dispute as to the facts: O. M. Spencer, a customer of the bank, was in the used car business. The bank financed Spencer's purchases of automobiles through a "floor plan" arrangement. This involved an advance to Spencer against his execution and delivery...
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