|
|
American Surety Co. v. Bethlehem Nat’l Bank, 314 U.S. 314 (1941)
Contents:
Show Summary
Hide Summary
General SummaryThis case is from a collection containing the full text of over 16,000 Supreme Court cases from 1793 to the present. The body of Supreme Court decisions are, effectively, the final interpretation of the Constitution. Only an amendment to the Constitution can permanently overturn an interpretation and this has happened only four times in American history.
American Surety Co. v. Bethlehem Nat’l Bank, 314 U.S. 314 (1941)
American Surety Company of New York v. Bethlehem National Bank No. 29 Argued November 12, 1941 Decided December 8, 1941 314 U.S. 314
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE THIRD CIRCUIT
Syllabus
1. In making the "ratable" distribution of assets of an insolvent National bank required by R.S. 5236, dividends must be declared proportionately upon the amounts of all claims as they stood on the date of insolvency. P. 317.
2. Where a claim against an insolvent national bank secured by a surety bond is paid in part by collateral and by dividends from the estate and the remainder by the surety company, the surety is subrogated to the right of the creditor in future dividends, and its proportion of future dividends is to be calculated not upon the basis of what it paid, but upon the amount of the original claim. P. 318.
116 F.2d 75 reversed.
Certiorari, 312 U.S. 677, to review the reversal of a judgment of the District Court fixing dividends in the winding up of an insolvent national bank.
Contents:
Chicago: U.S. Supreme Court, "Syllabus," American Surety Co. v. Bethlehem Nat’l Bank, 314 U.S. 314 (1941) in 314 U.S. 314 314 U.S. 315. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=LT6RUDV9XACSX9E.
MLA: U.S. Supreme Court. "Syllabus." American Surety Co. v. Bethlehem Nat’l Bank, 314 U.S. 314 (1941), in 314 U.S. 314, page 314 U.S. 315. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=LT6RUDV9XACSX9E.
Harvard: U.S. Supreme Court, 'Syllabus' in American Surety Co. v. Bethlehem Nat’l Bank, 314 U.S. 314 (1941). cited in 1941, 314 U.S. 314, pp.314 U.S. 315. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=LT6RUDV9XACSX9E.
|