Chicago Bridge & Iron Co. v. Reliance Insurance

The Chicago Bridge & Iron Company (hereinafter sometimes called “plaintiff”), as subcontractor to Taheny Brothers Company (hereinafter sometimes called “Taheny”), filed suit against defendant Taheny as general contractor to the Chicago Transit Authority and against Reliance Insurance Company (hereinafter sometimes called “Reliance”) as surety for the general contractor on a payment and performance bond given by Taheny to the CTA pursuant to sections 1 and 2 of the Payment Bond Statute (Ill Rev Stats, c 29, §§ 15, 16). In its four-count complaint, plaintiff sought to recover from the defendant…