[DOWNLOAD] "Koch v. Merchants Mutual Bonding Co." by Supreme Court of Kansas # eBook PDF Kindle ePub Free
eBook details
- Title: Koch v. Merchants Mutual Bonding Co.
- Author : Supreme Court of Kansas
- Release Date : January 03, 1973
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 66 KB
Description
The opinion of the court was delivered by The train of events leading up to this lawsuit had its origin in the appointment of Milford M. Magee as guardian of the person and estate of E. Sydney Smith, a minor. Miss Smith has since reached legal age and is, we are advised, now married. As required by the provisions of K.S.A. 59-1101 Mr. Magee, upon his appointment, provided a surety bond in the principal sum of $17,500, this amount being, we are entitled to assume, not less than 125 percent of the value of the personal property and probable income from the real property which should come into his possession. The guardian's bond was executed by the Merchants Mutual Bonding Company, as surety, the company being referred to hereafter as surety or bonding company, and it was conditioned that Magee should faithfully discharge all the duties of his trust according to law. This lawsuit raises issues with respect to the extent of the surety's liability under its bond. It is primarily contended by E. Sydney Smith, to whom we shall refer in this opinion as plaintiff, or ward, that the surety is obligated to pay double the amount converted by its principal under and by virtue of the provisions of K.S.A. 1972 Supp. 59-1704. The district court found in favor of the bonding company with respect to this contention, and the plaintiff has appealed from that decision.