United States Fidelity & Guaranty Co. v. United Penn Bank

How courts have described this case

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

• noting that where a surety assumed performance on behalf of a defaulting contractor, the surety was entitled to recover any unpaid contract balance
• noting that where a surety assumed performance on behalf of a defaulting contractor, the surety was entitled to recover any unpaid contract balance
• holding corporate surety’s payment of unsecured claims of defaulting subcontractor’s suppliers would not confer upon surety interest in subcontractor’s inventory superior to that of bank which held perfected security interest in inventory
• holding corporate surety's payment of unsecured claims of defaulting subcontractor's suppliers would not confer upon surety interest in subcontractor's inventory superior to that of bank which held perfected security interest in inventory
• in construction contract context, “[b]y paying the contractor’s debts, the surety acquires the right of substitution to the position of the contractor’s creditors when he pays”

Source: CourtListener parenthetical corpus (CC0).