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What is NC Bank vs. US Casualty Co. Appeal Case about?

This document is a court opinion from the United States Court of Appeals for the Fourth Circuit regarding whether a bank could recover losses from an indemnity bond related to loans secured by fraudulent accounts receivable. The court held that invoices representing nonexistent transactions were not "counterfeited or forged as to the signature" and therefore were not covered by the bond. The court adhered to its previous ruling on a similar case that the bond required loss resulting from reliance on a writt

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Scribd Government Docs

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