Argonaut Ins. Co. v. ABC Steel Products Co., Inc.

CORNELIUS, Chief Justice.

Argonaut Insurance Company appeals from a judgment rendered against it in favor of ABC Steel Products Co., Inc.

ABC agreed to sell and install steel warehouse doors to C. T. Lambert & Associates, Inc., a general contractor, for use in the construction of a mini-warehouse project in Richardson, Texas. Argonaut, pursuant to Tex.Rev.Civ.Stat.Ann. art. 5472d (Supp. 1978-1979), executed a statutory payment bond for Lambert which guaranteed the payment of all claims for labor and materials furnished Lambert in the construction of the project. ABC and Lambert’s contract…