Applicant for license under this chapter shall file with the village a surety bond in the amount of $1,000, conditioned that the applicant shall comply fully with the provisions of this code and any other ordinance of the village and statutes of this state regulating peddlers, solicitors and transient merchants, and guaranteeing to the residents of this village that all money paid to such licensee will be accounted for and applied according to the representations of the licensee, and further guaranteeing to the residents of this village doing business with the licensee that the property purchased will be delivered according to the representations of the licensee. Action on such bond may be brought by the person aggrieved and for whose benefit, among others, the bond is given.
('73 Code, § 32.05)