Search Supreme Court Cases


U.S. Supreme Court

United States Fid. & Guar. Co. v. Wooldridge, 268 U.S. 234 (1925)

United States Fidelity & Guaranty Company v. Wooldridge

No. 352

Argued April 29, 1925

Decided May 11, 1925

268 U.S. 234


1. Where a guaranty company executed a bond guaranteeing the fidelity of the president of a national bank, and another to a depositor of the bank insuring payment of deposit, and the bank thereafter became insolvent through the fraud of the president and the guarantor paid the depositor and took an assignment of the depositor's claim against the bank with approval of the bank's receiver, held that this claim could not be set-off by the guarantor as assignee or subrogee in an action by the receiver upon the bond first mentioned. P. 268 U. S. 237.

2. The doctrine of relation is a legal fiction invented to promote justice, and never allowed to defeat the collateral rights of third persons. Id.

295 F. 847 affirmed.

Error to a judgment of the circuit court of appeals affirming a judgment of the district court in favor of the receiver of a national bank in an action against the surety of one of its officers.

Page 268 U. S. 236

Powered by Justia US Supreme Court Center: UNITED STATES FID. & GUAR. CO. V. WOOLDRIDGE, 268 U. S. 234 (1925)

Official Supreme Court caselaw is only found in the print version of the United States Reports. Justia caselaw is provided for general informational purposes only, and may not reflect current legal developments, verdicts or settlements. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or information linked to from this site. Please check official sources.