Indiana University v. Indiana Bonding & Surety Co.

MILLER, Judge.

Indiana university (the University) brought this action against the Indiana Bonding & Surety Co. (Indiana Bonding) to enforce the provisions of two performance bonds executed by Indiana Bonding on behalf of Indiana Vendors, Inc. (Vendors). The University had granted Vendors two franchise contracts to place vending machines in buildings on the Bloomington and Indianapolis campuses. Vendors fell behind in its monthly commissions due the University on both contracts and ultimately was declared bankrupt. The University’s claim in Bankruptcy Court against Vendors for the past due…