American Surety Co. v. Bethlehem National Bank

Supreme Court of the United States · Decided 1941-12-08

Cited by 121 later decision(s) in our corpus · see the citation network in Lexace

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From the opinion

Mr. Justice Frankfurter delivered the opinion of the Court. The facts of this case are simple. The Commonwealth of Pennsylvania had $135,000 on deposit in the Bethlehem National Bank. This deposit was secured by a $125,000 bond, upon which the plaintiff was surety, and by a pledge *316 of government bonds having a par value of $12,000. The bank became…

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