National Surety Corp. v. State National Bank of Frankfort

OSBORNE, Judge.

At issue in this case is who, as between a surety company on a contractor’s performance bond and a lending bank, is entitled to collect payments for work performed by a defaulting contractor? The facts of the case are as follows:

In March of 1966, Ronald Pulliam entered into a contract with the Whitten-berg Engineering and Construction Company to perform electrical work in the construction of a dormitory on the campus of Morehead University. In October of 1966, the same parties entered into a similar contract in connection with the construction of a science building on the same…