Fidelity & Deposit Co. v. Santa Monica Finance Co.

The defendant has appealed from the granting of a preliminary injunction.

The verified complaint, upon the basis of which the pre *213 liminary injunction was issued, contains allegations as follows: 1. The plaintiff is a corporation and qualified to transact and actually engaged in transacting a general insurance and surety-ship business in the state of California. 2. Defendant is a corporation engaged in transacting business in the county of Los Angeles. 3. Douglass V. Neale, at all times mentioned in the complaint, was licensed as a used-automobile dealer under the laws of the state of California and maintained a place of business in the county of Los Angeles. 4. On or about November 21, 1957, plaintiff, as surety, and Neale, as principal, executed a certain used-automobile dealer’s bond in favor of the People of the state of California in the penal sum of $5,000 and “conditioned as required by the provisions of §204 and [§] 205 of the Vehicle Code.” 1 Such bond was in effect from January 1, 1958, to December 23, 1958, and under the terms thereof the liability of the plaintiff was not in excess of such sum of $5,000. 5. Each of the defendants, Santa Monica Finance Company,…