Val-U Investment Corp. v. Trinity Universal Insurance

CHASEZ, Judge.

Plaintiff sues to recover on a surety bond executed by Trinity Universal Insurance Company (hereinafter referred to as Trinity) guaranteeing the performance of a contract between Safticraft Corporation, principal on the bond, and Pioneer Leasing Corporation for the construction of a seventy foot, steel tug known as Hull No. 552. Plaintiff was named obligee in the bond. The Court a qua rendered judgment in favor of plaintiff. Defendant suspensively appeals the judgment; plaintiff answered the appeal asking for an increased award.

In August of 1962, the officers of the Safticraft…