“ The commission of sheriff, in Virginia, is annual; of course, his sureties are bound for one year only. It is true, the directors of this company are elected annually; but the company has not said that the agent shall be for one year only: his appointment is during pleasure. The sureties do not become sureties in consequence of their confidence in the directors, but of their confidence in the agent whose sureties they are. ”

“ The court is unanimously of the opinion that the judgment of the circuit court ought to be affirmed.
Judgment affirmed.
Notes
This work is in the public domain in the United States because it is a work of the United States federal government (see 17 U.S.C. 105) . ”

“ They shall choose a chairman from among themselves, and in case of vacancy by death, resignation, or otherwise, such vacancy shall be immediately filled by themselves from among the stockholders. And the said directors shall in no case whatever contract debts or engagements, by bill, bond, or otherwise, for, or on account of, the company, but all dealings under their superintendance and control aforesaid, shall be for cash or barter, except goods on deposite, which may be sold by the direction of the consignor. ”