Barge & Co. v. Oakwood Steel Co.

Eberhardt, Presiding Judge.

Oakwood Steel Company brought the present action on a private or non-statutory payment bond against Barge & Company, Inc., the principal and prime contractor, and Federal Insurance Company, the surety, which was issued in connection with a contract between Barge and Ryder Truck Lines, Inc., the obligee on the bond, for the construction of terminal facilities for Ryder. The bond provided that "if the Principal [Barge] shall pay all lawful claims of sub-contractors, materialmen, or laborers for labor performed or materials furnished directly to the Principal, in the…