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Case Citations [1] (July 2018-August 2019)

handle is hein.ali/relwsec0589 and id is 1 raw text is: SECURITY DIVISION II. SURETYSHIP CHAPTER 9. JUDICIAL BONDS (BONDS IN JUDICIAL PROCEEDINGS) § 188. Defective Judicial Bond Cal.App.2018. Quot. in ftn. After insurance company forfeited its bond following its failure to produce an arrestee, insurance company's surety filed an undertaking to stay enforcement of the summary- judgment order entered by the trial court against insurance company. The trial court denied surety's motion to exonerate the undertaking and to be released from liability on the undertaking. This court affirmed, holding that surety was estopped from challenging the undertaking, because, even if the undertaking were invalid, the parties treated the undertaking as valid and surety received a benefit from it since the undertaking prevented the government from executing a judgment on the bond. The court cited Restatement of Security § 188 in explaining that a surety could be liable on a bond despite any defects if the party on whose behalf the bond was delivered enjoyed a benefit from the delivery. People v. American Surety Co., 242 Cal.Rptr.3d 676, 690. COPYRIGHT 02019 By THE AMERICAN LAW INSTITUTE All rights reserved Printed in the United States of America For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination. ALI

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