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R.I. HOSP. TRUST NAT. BANK v. OHIO CAS. INS. CO.

No. 85-1876.

789 F.2d 74 (1986)

RHODE ISLAND HOSPITAL TRUST NATIONAL BANK, Plaintiff, Appellee, v. The OHIO CASUALTY INSURANCE COMPANY, Defendant, Appellant.

United States Court of Appeals, First Circuit.

Decided April 25, 1986.

Attorney(s) appearing for the Case

Louis J. Burnett, Birmingham, Mich., with whom Anthony F. Muri, Barbara S. Cohen, Licht & Semonoff, Providence, R.I., were on brief, for defendant, appellant.

George Vetter, with whom Gordon P. Cleary, Vetter & White, Providence, R.I., were on brief, for plaintiff, appellee.

Before COFFIN and BOWNES, Circuit Judges, MAZZONE, District Judge.

COFFIN, Circuit Judge.

This case involves the complex world of suretyship law and its impact on the rights of two financial institutions who are parties here because of their relationships with the buyer and seller of wood burning stoves. The district court found that appellant, Ohio Casualty Insurance Company (Ohio Casualty), was required to pay to appellee, Rhode Island Hospital Trust National Bank (the Bank), $325,000 on a bond that Ohio Casualty had issued on...

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