Standard Accident Ins. v. United States Cas. Co.

Holbert Electric Company, a copartnership composed of P. A. Holbert and G. R. Holbert, hereinafter referred to as contractor, was engaged in the performance of three construction contracts. In each case performance and payment bonds were required and Standard Accident Insurance Company, a corporation, hereinafter referred to as surety, executed each of the bonds in that capacity. Each bond was conditioned that principal would pay all bills incurred for labor and material used in the performance of the contract. During the period said contractor was covered by two insurance policies issued by…