Samuel Braen's Sons v. Fondo

The opinion of the court was delivered by

Conford, J. A. D.

This action was instituted June 1, 1955 to recover upon a statutory bond (N. J. S. 3A:44—143 et seq.) given July 33, 1954, covering performance by a contractor on a contract for certain municipal improvements in the Borough of Fair Lawn. The contractor was Magnifico Construction Company, which, after commencing performance of the work, defaulted and was adjudicated bankrupt March 15, 1955. Plaintiff and its assignors were suppliers of labor and materials to the contractor in connection with the project. It was stipulated at the trial…