Wildewood Operations v. WRV Holdings

Wildewood Operating Company, LLC v. WRV Holdings, LLC, et al., No. 388, September Term 2022. Opinion by Tang, J. PRINCIPAL AND SURETY – REMEDIES OF CREDITORS – CONDITIONS PRECEDENT TO ACTION AGAINST SURETY – NOTICE AND DEMAND Although performance bond language lacked explicit timely notice requirement, language is read as requiring obligee owner to timely notify surety of default and termination of construction contract before third party took over remedial work. To read otherwise would render meaningless surety’s rights to exercise mitigation options under bond. PRINCIPAL AND SURETY – NATURE…