W. C. Bowman Lumber Co. v. Pierson

The W. C. Bowman Lumber Company is a corporation chartered “to buy, sell, hold and deal in lumber and other building materials, both at wholesale and retail, and generally to do and perform all matters and things incident or necessary in such business.” As surety, it signed the bond given by A. T. Robinson, a contractor, to secure his performance of a certain building contract. During the negotiation for the contract, it was agreed between Robinson and the Lumber Company that he would purchase and it would sell him the lumber and other like material needed in the construction of the building…