62 N.H. 509 | N.H. | 1883
The defendants cannot deny the fact stated in the bond, that Brackett was treasurer of the bank when the bond was given. The bond contains no express limitation of its security to one official term; and if such a limitation is implied, the limited term is the one which the defendants admitted Brackett was holding at the date of the bond, December 30, 1869. By the charter, he was one of those who "hold their office for one year, and until others are chosen and have accepted in their stead." He was the only treasurer the bank ever had. He was elected in 1857; he has not been reelected, and no other person has been chosen in his stead. In fact and in law he was treasurer from 1857 to 1877, when the bank's property passed into the hands of assignees. In 1869, when the defendants admitted he was treasurer, he was holding the office, not for a year, but for the indefinite period of the sufferance of the corporation, who could choose another person as his successor at any time. The view most favorable to the sureties is, that the bond covers this indefinite period, and that they would not have been held for his performance of his duties after a reelection.
Dover v. Twombly,
There are authorities in conflict with Exeter Bank v. Rogers,
Case discharged.
SMITH, J., did not sit: the others concurred.