SOPER, Circuit Judge.
This suit was brought by the Bank against the Insurance Company to recover a loss of $12,000 which the Bank suffered on loans to the Shirtmaster Company, Inc., a South Carolina corporation, which were secured by fictitious invoices falsely represented by the borrower to be genuine. Liability is based on a blanket bond in the sum of $100,000 issued by the Insurance Company to the Bank whereby the Insurance Company agreed amongst other things to...
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