Legal Opinion
Casa Redimix Concrete Corp. v. Cosner Construction Corp.
Appellate Division of the Supreme Court of the State of New York
Decided December 29, 2009Published
1Opinion of the Court
The award of prejudgment interest against Liberty violates the well established rule, embodied in General Obligations Law § 7-301, that the liability of a surety is limited to the “amount specified in the undertaking” plus interest “from the time of default by the surety” (see e.g. Tri-City Elec. Co. v People, 63 NY2d 969 [1984]; Fidelity N.Y. v Aetna Ins. Co., 234 AD2d 261 [1996]; Mendel-Mesick-Cohen-Architects v Peerless Ins. Co., 74 AD2d 712, 713 [1980]; see generally Morrison Knudsen Corp. v Ground Improvement Techniques, Inc., 532 F3d 1063, 1072 [10th Cir 2008]). Since Liberty was not in…
2Cases cited5 opinions
- Chateau D' If Corp. v. City of New YorkAppellate Division of the Supreme Court of the State of New York · 1996
- Morrison Knudsen Corp. v. Ground Improvement Techniques, Inc.Court of Appeals for the Tenth Circuit · 2008
- Tri-City Electric Co. v. PeopleNew York Court of Appeals · 1984
- Mendel-Mesick-Cohen-Architects v. Peerless InsuranceAppellate Division of the Supreme Court of the State of New York · 1980
- Fidelity New York, FSB v. Aetna InsuranceAppellate Division of the Supreme Court of the State of New York · 1996