SURETYSHIP-EFFECT OF DEATH OF SURETY ON RIGHTS OF CREDITOR

Authors

Jacob L. Keidan, University of Michigan Law SchoolFollow

Abstract

In a suit on a bond filed in accordance with statutory requirements by a depository designated by a court of bankruptcy, it was pleaded in defense that the surety died before any deposits were received by the designated bank. The circuit court of appeals held for the defendant, ruling that the bond was only a multiple offer and lapsed with the death of the surety. The Supreme Court reversed this decision on the ground that the bond was a single offer, and the designation of the bank as an official depository constituted an acceptance thereof. United States for the use of Wilhelm v. Chain, (C. C. A. 4th, 1936) 84 F. (2d) 138; (U. S. 1937) 57 S. Ct. 394.

Recommended Citation

Jacob L. Keidan, SURETYSHIP-EFFECT OF DEATH OF SURETY ON RIGHTS OF CREDITOR, 35 Mich. L. Rev. 1024 (1937).
Available at: https://repository.law.umich.edu/mlr/vol35/iss6/23