Board of Education v. Richmond Construction Co.

*497The opinion of the court was delivered by

White, J.

The suit is upon a bond of the principal, a builder, and his surety, a bonding company, to indemnify the plaintiff, an owner, for loss resulting from failure of the principal to perform a building contract, drawn in the usual “uniform” form, containing a provision that in ease of a justifying default (so certified by the architect), the owner might finish the building, retaining and applying the unpaid portion of the contract price, and holding the contractor for such amount as the “expense incurred” in finishing shall exceed the amount so…