Guthrie Investments, Inc. v. Bennett

On June 17, 1958, one Russell B. Owens, doing business as Russ Owens Plumbing & Heating Service, hereafter referred to as Owens, entered into a contract with Burl Johnson and Associates, a partnership, by the terms of which Owens as a subcontractor agreed to do certain plumbing work required under a housing contract with the federal government. The Owens contract price was payable in monthly estimates with 10 per cent of each estimate to be retained by Burl Johnson and Associates until completion of the work to its satisfaction. Burl Johnson and Associates reserved the privilege of paying…