(Download) "Transamerica Insurance Company v. Standard" by Supreme Court of North Dakota # Book PDF Kindle ePub Free

eBook details

Title: Transamerica Insurance Company v. Standard
Author : Supreme Court of North Dakota
Release Date : January 20, 1982
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 69 KB

Description

VandeWalle, Justice. Robert Smith, former office manager of Minot Builders Supply Association (hereinafter ""MBS""), fraudulently used a credit card issued to MBS by Standard Oil Company of Indiana, doing business as Amoco Oil Company (hereinafter ""Amoco""), for his personal gain. Because Transamerica Insurance Company (hereinafter ""Transamerica"") insured MBS for wrongful acts by MBS employees, Transamerica paid MBS for the loss caused by Smith's fraud. As a result Transamerica became subrogated to MBS's claims. Transamerica brought an action against Amoco alleging that it was not liable for Smith's fraudulent charges under Federal and State credit-card laws. The district court of Ward County agreed and awarded Transamerica $26,376.53 plus costs. We reverse and remand for a reconsideration of the amount of damages consistent with this opinion.