American Fidelity Co. v. Metropolitan Paving Brick Co.

Citations

• 35 Ohio C.C. Dec. 662
• 30 Ohio C.A. 209

Syllabus

<p>PRINCIPAL AND SURETY</p> <p>1. Materialmen and Laborers not Required to Give Written Notice of Principal’s Default to Sue on Bond.</p> <p>A condition in the bond of a surety company, covering a contract entered into by county commissioners for road work, that immediate written notice shall be given to the surety company of any known default on the part of the principal in said bond, does not contemplate that materialmen and laborers must give such notice as a prerequisite to the enforcement of their claims.</p> <p>2. Neither Delivery of Promissory Notes Nor Extension of Time Operates as Release of Surety.</p> <p>The mere execution and delivery of promissory notes, in the absence of an agreement that the said notes are in settlement of the .indebtedness which they represent, does not operate as payment or settlement of the claim or release the surety, nor does a reasonable extension of time for payment operate as a release of the surety.</p>