Show BONDING COMPANY IS HELD LIABLE SALT S LL LT LAKE Oct b 5 6 In In an Is opinion given ghen yesterday the slate elate sup supreme eme court holds that because I William A A Banks formerly city sexton of ot Mutta Iuna signed a note nole to repay to the city I within six months time the tho public ida funds B which he had defaulted does not nol release the surely company Which vent sent his hll bond from liability liability ty for tor the amount ot of o defalcation Banks failed tailed to pay This decision reverses the decisIon decision decision ion ot of the Third court wherein 1 Hurray City 8 s action the American Surety com corn compAn company pang pany pAn and Banks Banka was wa l Judge In the district court lB dis- discharged dis discharged charged the surety auret This jude judg- judgment judg-I judg ment la is reversed refereed re by the tho supreme court the th decision neing written by Ji lice JP J 1 W P Cherr Cherry While the amount of Banks de- de defalcation de defalcation wag sas only about 1200 1200 It Itis re lS stated the decision of ot the su- su supreme su-pi su pi preme erne court goes OS till tar to clarity the law In this state stale as to the responsibility responsibility of ot companies which engage in the providing providing- of ot Londs bonder I Iu u as i n com commercial transaction actIon I |