United States v. National Surety Co.,
Annotate this Case
254 U.S. 73 (1920)
- Syllabus |
U.S. Supreme Court
United States v. National Surety Co., 254 U.S. 73 (1920)
United States v. National Surety Company
Nos. 271, 272
Submitted October 13, 1920
Decided November 8, 1920
254 U.S. 73
Revised Statute, § 3468, which gives a surety who pays to the United states the amount due on a bond of an insolvent debtor the priority enjoyed by the United States over other creditors under Rev.Stats. § 3466 does not entitle the surety to share equally with the United States when the estate is insufficient to satisfy the claim of the
United States, and this construction is in harmony with a familiar rule of subrogation under which a surety liable only for part of a debt does not become subrogated to remedies available to the creditor unless he pays the whole debt or it is otherwise satisfied. P. 254 U. S. 75.
262 F. 62 reversed.
The case is stated in the opinion.