Bennett v. Fidelity & Deposit Co. of Maryland

OPINION

This appeal results from a judgment awarding $9,428 to respondent under a construction contract. We affirm.

In 1975, appellants entered into a contract with Benefield Construction Company, Inc. (Benefield), wherein Benefield agreed to build a Pizza Inn Restaurant for the sum of $94,280. The agreement provided for a 10 percent retainage of the contract price ($9,428), to be paid after final inspection and the issuance of lien waivers to appellants. In addition, respondent Fidelity & Deposit Company of Maryland (Fidelity) and Benefield entered into a labor and material payment bond as…