Vanadium Corp. v. Fidelity & Deposit Co. of Maryland

CLARK, Circuit Judge.

This action against a surety on a bond securing performance of a contract of sale of mining leases was originally brought in the Supreme Court of the State of New York and came to the district court below through removal by defendant because of the diverse citizenship of the parties. The principal on the bond, Horace Ray Reding-ton, then intervened as a party defendant. Since the contract of sale was not completed, plaintiff vendee by its terms became entitled to repayment of the consideration paid in advance of $13,000, unless its own acts justified defendants’ refusal…