Compania De Remorque Y Salvamento, S. A. v. Esperance, Inc.
Court of Appeals for the Second Circuit
1Opinion of the Court
CHASE, Circuit Judge.
The inability of a tower to perform a towage contract completely and the settle ment by its surety on a performance bond, without its acquiescence, of consequent claims have led to this controversy.
On November 7, 1947, Esperance, Inc., a New York corporation hired Compania De Remorque y Salvamento, S. A., a corporation organized under the laws of Panama, to tow certain vessels from Charleston, S. G, to Buenos Aires, Argentina, for $60,000. The Seaboard Surety Company, a New York corporation, executed a performance bond as surety. Compania failed to perform fully the…
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