Southern Surety Co. v. MacMillan Co.

I shall refer to the contract between the Surety Company and the MacMillan Company as “the bond” and to the contract between MacMillan Company and the Book Company as “the contract.”

As early as May 29, 1926, the Book Company breached the provision of the sixth paragraph of the contract requiring it to make quarterly reports and remittances. In May, 1928, the agent of the MacMillan Company condoned the Book Company’s failures to remit as required by the contract by stating, in a letter to the Book Company: “I am not asking for remittances * * * I understand * * * they will come along as usual…