Levee Const. Co. v. Equitable Casualty & Surety Co.

On August 1, 1929, the Levee Construction Company entered into a contract with the United States government for the construction of the Bedford-Bayou Vidal levee, lots 1, 2, and 3, lower Tensas levee district.

Plaintiff company furnished the defendant, Equitable Casualty & Surety Company of New York, as surety for the faithful performance of the work undertaken under this contract, and bond in the sum of $439,400 was executed by the surety.

In consideration of the Equitable Casualty & Surety Company of New York becoming surety on its bond, plaintiff company paid to that company a premium of…