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Jefferson County Bank of Lakewood v. Armored Motors Service

Colorado Supreme Court

366 P.2d 134 (1961)

Facts

Jefferson County Bank of Lakewood (Jefferson) (plaintiff) entrusted Armored Motors Service (defendant) with the delivery of sealed bags of currency to another bank. After Armored Motors guards locked the bags of currency in their truck, the guards briefly stepped away. When the guards returned to the truck, four bags of currency were gone. Total losses were $165,450. However, Armored Motor’s maximum liability as stipulated by contract was $30,000. Jefferson brought suit to recover the $165,450. The trial court rendered judgment for $30,000. Jefferson appealed, contending that it was owed the full amount of currency lost. The Colorado Supreme Court granted certiorari.

Rule of Law

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Issue

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Holding and Reasoning (Moore, J.)

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A "yes" or "no" answer to the question framed in the issue section;
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The procedural disposition (e.g., reversed and remanded, affirmed, etc.).

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