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U.S.F. AND G. CO. v. FIRST NAT'L BANK

18241

244 S.C. 436 (1964)

137 S.E.2d 582

UNITED STATES FIDELITY AND GUARANTY COMPANY, Appellant, v. The FIRST NATIONAL BANK OF SOUTH CAROLINA OF COLUMBIA, Respondent.

Supreme Court of South Carolina.

July 21, 1964.

Attorney(s) appearing for the Case

Messrs. Roger M. Heyward and Bernard Manning, of Columbia, for Appellant.

Messrs. Boyd, Bruton & Lumpkin, Charles W. Knowlton and Kirkman Finlay, Jr., of Columbia, for Respondent.

Messrs. Roger M. Heyward and Bernard Manning, of Columbia, for Appellant, in Reply.

July 21, 1964.

BUSSEY, Justice.

In this action appellant, as subrogee of Southern States Construction Company (hereinafter simply called the company), by virtue of having paid a claim under a fidelity bond issued to the said company covering its employees, sought to recover from the respondent (which will hereinafter be referred to simply as the bank) the amount of the claim paid by it, plus interest and costs. The defalcation of an employee of the company...

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