Equitable Casualty & Surety Co. v. Nowlin

McClendon, o. j.

Nowlin (appellee) sued the surety company (appeilant) upon a bond given by the latter in favor of the former guaranteeing a building contract. Upon a directed verdict, Nowlin recovered judgment against the surety company for $4,000, the full amount of the bond, with legal interest from November 1, 1929. The surety company has appealed, and presents three points which we will consider in the following order:

I. That it was not liable because Nowlin (had the right to credit the amount of his loss upon a note given the contractors in payment for the building, which note the…