Globe Indemnity Co. v. Peterson-McCaslin Lumber Co.

OPINION

By the Court, Merrill, C. J.:

This is an action brought by respondent lumber company against appellant indemnity company as surety upon a public works bond. From summary judgment in favor of the lumber company, rendered upon the pleadings, the indemnity company has taken this appeal. The sole question involved is as to the respective rights of the parties to that portion of the contract price retained by the State as security for completion of the work by the contractor. The lumber company asserts rights as an unpaid materialman. The indemnity company asserts rights by subrogation.

One…