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BAKER & CO., FLA. v. PREFERRED RISK MUT. INS. CO.

No. 76-1726.

569 F.2d 1347 (1978)

BAKER AND COMPANY, FLORIDA, Plaintiff-Appellee, v. PREFERRED RISK MUTUAL INSURANCE COMPANY, Defendant-Appellant.

United States Court of Appeals, Fifth Circuit.

March 24, 1978.

Attorney(s) appearing for the Case

James A. Becker, Jr., Velia Ann Mayer, Jackson, Miss., for defendant-appellant.

Thomas W. Crockett, Jr., Lester F. Smith, Jackson, Miss., for plaintiff-appellee.

Before WISDOM, GODBOLD and CLARK, Circuit Judges.

CHARLES CLARK, Circuit Judge.

The ultimate question here is an old one: Which of two innocent parties must suffer a loss caused by the dishonesty of a third? Baker and Company sued Preferred Risk Mutual Insurance Company because of the unauthorized, fraudulent actions of Preferred Risk's agent, William Carpenter. Baker lost $68,602.23 in its dealings with Carpenter. A properly instructed jury returned a verdict for $41,814.53, the amount of Baker's loss it could have...

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