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STANDARD ACCIDENT INS. CO. v. PELLECCHIA

15 N.J. 162 (1954)

104 A.2d 288

STANDARD ACCIDENT INSURANCE COMPANY, PLAINTIFF-APPELLANT, v. PELLEGRINO JAMES PELLECCHIA, JR., DEFENDANT, AND FEDERAL TRUST COMPANY, DEFENDANT-RESPONDENT.

The Supreme Court of New Jersey.

Argued February 23, 1954.

Decided April 5, 1954.

Attorney(s) appearing for the Case

Mr. Louis Auerbacher, Jr., argued the cause for the appellant.

Mr. Charles S. Barrett, Jr., argued the cause for the respondent (Messrs. Lum, Fairlie & Foster, attorneys).

The opinion of the court was delivered by VANDERBILT, C.J.

The plaintiff Standard Accident Insurance Company appeals from a summary judgment entered in the Law Division of the Superior Court in favor of the Federal Trust Company, one of the defendants.

I.

On January 10, 1946 Standard issued to the Columbus Trust Company two fidelity bonds totalling $175,000 to protect that institution, among other things, against loss arising out of any fraudulent...

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