Dragon Construction, Inc. v. Parkway Bank & Trust

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• finding that bond was void where obligee did not follow the specific termination and notification procedures provided in the contract, which was incorporated by reference in the bond
• stating that the owners had terminated the original contractor and hired a replacement “without consulting or even informing” the surety
• finding that bond was void where obligee did not follow the specific termination and notification procedures provided in the contract, which was incorporated by reference in the bond
• stating that surety is liable “only if two conditions exist. First, [the principal] must have been in default of its performance obligations under the [ ]contraet. Second, [the obligee] must have declared [the principal] to be in default.”
• “A party to a contract is discharge from his duty to perform where there is a material breach of the contract by the other party.”

Source: CourtListener parenthetical corpus (CC0).