A. L. Smith Iron Works v. Maryland Casualty Co.

In July, 1924, the town of Winthrop made a written contract with a construction company for the *75erection of a high school building. At the same time the construction company, as principal, and the Maryland Casualty Company, as surety, executed and delivered to the town a bond containing this condition: . . if the Principal shall faithfully perform the Contract on his part, and satisfy all claims and demands, incurred for the same, and shall fully indemnify and save harmless the Owner [the town] from all cost and damage which he may suffer by reason of failure so to do, and shall fully…