Farley v. American Surety Co. of New York

Supreme Court of South Carolina

Farley v. American Surety Co. of New York

188 S.E. 776, 182 S.C. 187, 1936 S.C. LEXIS 20

CourtSupreme Court of South Carolina

DecidedDecember 1, 1936

Docket14389

StatusPublished

Cited by2 cases

This text of 188 S.E. 776 (Farley v. American Surety Co. of New York) is published on Counsel Stack Legal Research, covering Supreme Court of South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Farley v. American Surety Co. of New York, 188 S.E. 776, 182 S.C. 187, 1936 S.C. LEXIS 20 (S.C. 1936).

Pincite

Opinion

The opinion of the Court was delivered by

Mr. Chief Justice Stabler.

This appeal is from an order overruling a demurrer to the complaint. The action was commenced in June, 1933. In so far as the appellant, American Surety Company of New York, is concerned, the suit is upon a fiduciary bond issued by it in November, 1912,- and in which Milledge T. Pitts, formerly president of Planters National Bank of Saluda, and who died in December, 1930, was the principal. The bond, which is set out as an exhibit to the complaint, contained the usual coverage found in bonds of this kind, and was continuous in its operation, being renewed, from year to year merely by the payment of yearly premiums.

*206 We have given careful consideration to the questions-raised by the exceptions; and, while we are not in agreement with all that is said in the Circuit Order, we think, under the facts alleged in the complaint and admitted by the demurrer to be true, Judge Sease reached the correct conclusion. We therefore approve the result of his decree. See Peurifoy, Receiver, v. Loyal et al., 154 S. C., 267, 151 S. E., 579; Garner v. Volunteer State Life Insurance Company, 171 S. C., 1, 171 S. E., 370; Lee v. Metropolitan Life Insurance Company, 180 S. C., 475, 186 S. E., 376.

The judgment of the Circuit Court is affirmed.

Messrs. Justices Bonham, Baker and Fisi-iburne and Mr. Acting Associate Justice A. E. Gaston concur.

Free access — add to your briefcase to read the full text and ask questions with AI

The opinion of the Court was delivered by

Mr. Chief Justice Stabler.

This appeal is from an order overruling a demurrer to the complaint. The action was commenced in June, 1933. In so far as the appellant, American Surety Company of New York, is concerned, the suit is upon a fiduciary bond issued by it in November, 1912,- and in which Milledge T. Pitts, formerly president of Planters National Bank of Saluda, and who died in December, 1930, was the principal. The bond, which is set out as an exhibit to the complaint, contained the usual coverage found in bonds of this kind, and was continuous in its operation, being renewed, from year to year merely by the payment of yearly premiums.

*206 We have given careful consideration to the questions-raised by the exceptions; and, while we are not in agreement with all that is said in the Circuit Order, we think, under the facts alleged in the complaint and admitted by the demurrer to be true, Judge Sease reached the correct conclusion. We therefore approve the result of his decree. See Peurifoy, Receiver, v. Loyal et al., 154 S. C., 267, 151 S. E., 579; Garner v. Volunteer State Life Insurance Company, 171 S. C., 1, 171 S. E., 370; Lee v. Metropolitan Life Insurance Company, 180 S. C., 475, 186 S. E., 376.

The judgment of the Circuit Court is affirmed.

Messrs. Justices Bonham, Baker and Fisi-iburne and Mr. Acting Associate Justice A. E. Gaston concur.

Cite This Page — Counsel Stack

Bluebook (online)

188 S.E. 776, 182 S.C. 187, 1936 S.C. LEXIS 20, Counsel Stack Legal Research, https://law.counselstack.com/opinion/farley-v-american-surety-co-of-new-york-sc-1936.

Opinion

Related

Cite This Page — Counsel Stack