Algonite Stone Manufacturing Co. v. Fidelity & Deposit Co.

Citations

• 100 Kan. 28
• 163 P. 1076
• 1917 Kan. LEXIS 252

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>Building Contract — Surety Bond — Inures to the Benefit of Laborers and Materialmen. A surety bond to guarantee the faithful performance of a contract for the erection of a building, which by reference makes the contract and specifications a part of the bond, the specifications requiring the contractor upon final settlement to furnish satisfactory evidence that all persons who performed labor or furnished materials under the contract have been fully paid, otherwise reserving to the owner the right to retain final payment “until all liabilities are fully discharged by paying them from such money,” is held to have been intended for the benefit of laborers and material-men under the contract; and therefore they may maintain a suit on. the bond to enforce their claims without having filed mechanic’s liens.</p>