HASTIE, Circuit Judge.
The plaintiff, Phoenix Assurance Co., insured Amboy Manufacturing Co. against loss "the Insured shall sustain through any fraudulent or dishonest act or acts committed by any of" its employees. Beginning January 9, 1959 and intermittently until March 17, 1961, Grace Diller, employed by Amboy as a bookkeeper and payroll clerk in its New Jersey office, defrauded her employer in the following manner. First, she would add to a weekly payroll the...
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