Employers Liability Assur. Corp. v. Johnson County

MOREMEN, Justice.

This is an appeal from a judgment of the Johnson Circuit Court which reformed a performance bond given by May-Bilt, Inc., as principal, and appellant, Employers Liability Assurance Corporation, Ltd., surety, to the fiscal court of Johnson County to secure a faithful performance of a contract under the terms of which May-Bilt, Inc., undertook to construct for the fiscal court two school buildings, one at Oil Springs and the other at Williamsport.

In 1949, the fiscal court advertised for bids for construction of the two buildings according to plans, specifications and contract…