Olympic Development Group, Inc. v. American Druggists' Insurance

Carley, Judge.

Appellee-surety filed a complaint against appellants-indemnitors, alleging the following: That appellee executed a surety bond with Prichard Mining Company as principal; that, in consideration thereof, appellants agreed to indemnify appellee against any and all liability appellee would incur as a result of executing the bond; that the bond was forfeited and appellee was required to pay the amount of the forfeiture; and that appellants were indebted to appellee in the amount of the unpaid premiums and principal on the bond, attorney fees and costs of litigation. On May 22, 1984,…