Title Guaranty & Surety Co. v. Turnes

Appellate Court of Illinois

Title Guaranty & Surety Co. v. Turnes

182 Ill. App. 23

Appellate Court of Illinois·Decided October 9, 1913·No. Gen. No. 17,959·Published

Opinion

Mr. Presiding Justice McSurely

delivered the opinion of the court.

3. Corporations, § 305*—when judgment not res adjudicata on question of officer’s liability. Judgment against a pretended corporation on its bond is not res adjudicata on question who is liable on a contract executed by its officer in the name of the corporation to indemnify a surety on the bond. 4. Indemnity, § 8*-—words in contract construed. In a contract to indemnify a surety on a bond bearing a date subsequent to that of the contract, the words “by reason of its having executed said bond’’ refer to a future time when surety may sustain loss.

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Mr. Presiding Justice McSurely

delivered the opinion of the court.

3. Corporations, § 305*—when judgment not res adjudicata on question of officer’s liability. Judgment against a pretended corporation on its bond is not res adjudicata on question who is liable on a contract executed by its officer in the name of the corporation to indemnify a surety on the bond. 4. Indemnity, § 8*-—words in contract construed. In a contract to indemnify a surety on a bond bearing a date subsequent to that of the contract, the words “by reason of its having executed said bond’’ refer to a future time when surety may sustain loss.

Title Guaranty & Surety Co. v. Turnes, 182 Ill. App. 23 (Ill. Ct. App. 1913).

Pincite

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