11 Nov 1998
AMERICAN HOME ASSURANCE CO. v. JAMES STAINLESS STEEL LTD.
- Citation
- AMERICAN HOME ASSURANCE CO. v. JAMES STAINLESS STEEL LTD.
- Court
- Court of First Instance
- Case number
- HCA11833/1994
The court held the Defendant liable to indemnify the Plaintiff because the Defendant had (i) effectively agreed to provide the Corporate Indemnity (by concession, acceptance of quotation, admission in correspondence and oral agreement through its agent) and (ii) the Surety Bond was properly construed as an unconditional demand bond payable on written demand and not conditional on proof of the subcontractor's default, so the Plaintiff's payment under the bond was recoverable from the Defendant.