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LARSON v. PEERLESS INSURANCE COMPANY

No. 16370.

362 S.W.2d 863 (1962)

C. J. LARSON, d/b/a Friendly Finance Company, Appellant, v. PEERLESS INSURANCE COMPANY, Appellee.

Court of Civil Appeals of Texas, Fort Worth.

November 30, 1962.

Attorney(s) appearing for the Case

Donald C. Gladden, Fort Worth, for appellant.

Jackson, Walker, Winstead, Cantwell & Miller, D. L. Case and Jack Pew, Jr., Dallas, for appellee.

RENFRO, Justice.

Defendant Peerless Insurance Company issued to plaintiff Friendly Finance Company a fidelity bond effective April 27, 1960, covering plaintiff's employee Jack L. M. Draper, Jr.

Paragraph VI thereof provided: "This bond shall terminate as to future acts of any Employee immediately upon discovery by the insured, or, if a corporation, by any director thereof or by any officer thereof not in collusion...

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