Michigan Supreme Court January 9, 1985, 70435, (Calendar No. 12) (General Electric Credit Corp. v. Wolverine Insurance)

Ryan, J.

This case is concerned with the meaning of the word "fraud” as used in a surety bond whose terms are prescribed by statute. Three questions are presented:

1. Whether the term "fraud” in the expression "fraud, cheating, or misrepresentation,” as used in a surety bond issued pursuant to MCL 257.248(7); MSA 9.1948(7),

1

means only actual fraud or also means constructive fraud;

2.