Siata International U.S.A. Inc. v. Insurance Co. of North America

MEMORANDUM

CLARY, District Judge.

This ease is presently before the Court for disposition of defendant’s motion for judgment notwithstanding the verdict, or in the alternative, motion for new trial.

The resolution of this case depends primarily, if not exclusively, upon the interpretation of the condition of a sure ty bond issued by the defendant to the plaintiff which condition reads as follows:

Now, therefore, the condition of the above obligation is such, that if the above bounden Principal shall repay to the above Named Obligee the lesser of the total sum of One Hundred Thousand and no/100…