Mid-State Auto Auction of Lexington, Inc. v. Altman

BURNETT, Justice.

This appeal is from an order granting summary judgment in an action to recover under the terms of a surety bond issued pursuant to S.C.Code Ann. § 56-15-320. We reverse and remand.

FACTS

Carl Altman d/b/a Altman Auto Sales (Altman) was a motor vehicle dealer. As part of the licensing requirements for motor vehicle dealers, Appellant Western Surety Company (Western) and Altman executed a surety bond in the amount of fifteen thousand dollars. See S.C.Code Ann.- § 56-15-320 (Supp.1995). During the effective term of this bond, Altman purchased several vehicles from Respondent…