Snyder National Bank v. Westchester Fire Insurance Co.
Decision Date | 20 May 1970 |
Docket Number | No. 28080.,28080. |
Citation | 425 F.2d 849 |
Parties | SNYDER NATIONAL BANK, Plaintiff-Appellee, v. WESTCHESTER FIRE INSURANCE COMPANY, Defendant-Appellant. |
Court | U.S. Court of Appeals — Fifth Circuit |
James A. Williams, Dallas, Tex., for defendant-appellant.
Marshall Simmons, Thomas W. Luce, III, Dallas, Tex., W. James Rosser, Rosser & Carroll, Snyder, Tex., for plaintiff-appellee.
Before RIVES, GEWIN and INGRAHAM, Circuit Judges.
Snyder National Bank, plaintiff-appellee, instituted this action on a Banker's Blanket Bond issued by the defendant-appellant, Westchester Fire Insurance Co., seeking to recover $29,334.43 which was the alleged amount of loss suffered by appellee as a result of a loan default. On cross motions for summary judgment, the district court found that appellee's loss was covered by Clause E of the Banker's Blanket Bond and rendered judgment for the appellee. Snyder National Bank v. Westchester Fire Insurance Company, 294 F.Supp. 500 (N.D. Tex.1968).
The parties entered into a stipulation of all material facts which are succinctly summarized by the court below:
The controversy between the parties centers around the construction of Insuring Clause E of the Banker's Blanket Bond and the sole issue presented to this court for review is whether the phrase "securities, documents or other written instruments", as appears in the clause, encompasses the telegram in question.
Insuring Clause E of the standard form bond reads, in pertinent part, as follows:
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