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FIDELITY AND CASUALTY COMPANY v. BANK OF COMMERCE

4 Div. 284.

234 So.2d 871 (1970)

The FIDELITY AND CASUALTY COMPANY v. BANK OF COMMERCE.

Supreme Court of Alabama.

April 30, 1970.

Attorney(s) appearing for the Case

Frank Samples, Phenix City, Rushton, Stakely & Johnson, and N. T. Braswell, III, Montgomery, for appellant.

Jere L. Beasley, Clayton, for appellee.

LAWSON, Justice.

This suit was brought by Bank of Commerce, Clayton, Alabama, against the Fidelity and Casualty Company of New York to recover a loss which the Bank suffered as a result of a financial transaction which it had on January 17, 1964, with an authorized representative of Robert M. Davis, who did business as Eileen Sportswear Company.

Liability is based on a "Bankers Blanket Bond, Standard Form No. 24," in the amount of $180,000 issued by the Fidelity...

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