Supreme Court of North Carolina November 27, 1911 (Clark v. Bonsal & Co.)

Hoke, J.,

after stating the case: In construing contracts of this character, the courts have generally held that if the indemnity is clearly one against loss or damage, no action will lie in favor of the insured till some damage has been sustained, either by payment of the whole sum or some part of an employee’s

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claim; but if the stipulation is, in effect, one indemnifying against liability,