Wallace Industrial Constructors v. Louisiana Electric Cooperative, Inc.

E. GORDON WEST, District Judge:

This suit arises out of an error contained in a bid submitted by the plaintiff, Wallace Industrial Constructors, to the defendant, Louisiana Electric Cooperative, Inc., for the construction of an electric generating plant. Wallace submitted a bid price of $1,393,929.00, but shortly after the opening of the bids, Wallace discovered that it had inadvertently omitted a $354,174.00 figure from its total. As one of the requirements of bidding on the job, Wallace, through the plaintiff, Glen Falls Insurance Company, posted a 10 per cent bid bond. Within hours after…