fidelity guaranty insurance
- fidelity guaranty insurance
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A contract whereby one, for a consideration, agrees to indemnify another against loss arising from the want of integrity or fidelity of employees or persons holding positions of trust. People ex rel. Kasson v Rose, 174 Ill 310, 51 NE 246. In substance and effect a contract to be construed as a policy of insurance notwithstanding it may be nominally in the form of a contract of suretyship, having a principal, surety, and obligee. Anno: 7 ALR2d 946; 50 Am J1st Suret § 324.
Ballentine's law dictionary.
Anderson, W.S..
1998.
Look at other dictionaries:
guaranty insurance — A guaranty or insurance against loss in case a person named shall make a designated default, or be guilty of specified conduct. People ex rel. Kasson v Rose, 174 Ill 310, 51 NE 246. See credit insurance; fidelity guaranty insurance; title… … Ballentine's law dictionary
fidelity and guaranty insurance — A contract of fidelity or guaranty insurance is one whereby the insurer, for a valuable consideration, agrees, subject to certain conditions, to indemnify the insured against loss consequent upon the dishonesty or default of a designated person.… … Black's law dictionary
fidelity and guaranty insurance — A contract of fidelity or guaranty insurance is one whereby the insurer, for a valuable consideration, agrees, subject to certain conditions, to indemnify the insured against loss consequent upon the dishonesty or default of a designated person.… … Black's law dictionary
fidelity bond — A bond conditioned upon payment of loss resulting from embezzlement by an officer or employee, usually construed as an insurance contract, notwithstanding it is nominally in the form of a contract of suretyship. See fidelity guaranty insurance … Ballentine's law dictionary
guaranty — guar·an·ty / gar ən tē, gär / n pl ties [Old French garantie, from garantir to guarantee, from garant warrant] 1: a pledge to pay another s debt or to perform another s duty in case of the other s default or inadequate performance compare letter… … Law dictionary
insurance — in·sur·ance /in shu̇r əns, in ˌshu̇r / n 1: the action, process, or means of insuring or the state of being insured usu. against loss or damage by a contingent event (as death, fire, accident, or sickness) 2 a: the business of insuring persons or … Law dictionary
fidelity — fi·del·i·ty /fə de lə tē, fī / n: the quality or state of being faithful or loyal; esp: loyalty to one s spouse in refraining from adultery and sometimes in submitting to a spouse s reasonable sexual desires Merriam Webster’s Dictionary of Law.… … Law dictionary
insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… … Black's law dictionary
insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… … Black's law dictionary
fidelity bond — Contract of fidelity insurance. Runcie v. Corn Exchange Bank Trust Co., Sup., 6 N.Y.S.2d 616, 620. A guaranty of personal honesty of officer furnishing indemnity against his defalcation or negligence. Phillips v. Board of Education of Pineville,… … Black's law dictionary
