Plaintiff is a Michigan corporation which operated as an auctioneer-broker for used car dealers. In 1963, Harold Brink was the majority stockholder of plaintiff. He was also president and general manager with control of the day-to-day operations of the company.
In 1963, plaintiff purchased an indemnity bond from defendant in the amount of $50,000 which was in force for the period from September 24 to...
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