American Indemnity Co. v. Reed

Gordon Walker contracted for the construction of a courthouse at Russellville, Arkansas. He was required to execute contractor’s bond, and this bond was made by the Union Indemnity Company, a corporation, as paid surety.

The Union Indemnity Company had, sometime previously, been authorized to do business in the State of Arkansas. The record is silent on the matter of the surety for the Union Indemnity Company, at the time it was authorized to do business in the State, and also at the time it became surety upon the bond for Gordon Walker. However, on July 28, 1931, the American Indemnity…