[Download] "Beard Family Partnership V. Commercial Indemnity Insurance Co." by Third District, at Austin Texas Court of Appeals " eBook PDF Kindle ePub Free
eBook details
- Title: Beard Family Partnership V. Commercial Indemnity Insurance Co.
- Author : Third District, at Austin Texas Court of Appeals
- Release Date : January 29, 2003
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 81 KB
Description
This case involves a surety's rights and obligations under payment and performance bonds entered into pursuant to a construction contract. Appellee Commercial Indemnity Insurance Company ("Commercial Indemnity"), the surety, sued appellant Beard Family Partnership ("Beard"), the owner of land to be developed as a subdivision, for breach of contract and attorneys' fees based on Beard's failure to pay Commercial Indemnity the contract balance for the completed construction of a residential subdivision's infrastructure after the contractor defaulted. Following a jury trial, the jury specifically found that both parties failed to comply with the underlying construction contract, but that Commercial Indemnity substantially performed the contract. The jury awarded damages and reasonable attorneys' fees to Commercial Indemnity. Based on the jury's damages finding of $155,733.51, the court rendered judgment in favor of Commercial Indemnity, adding prejudgment interest in the amount of $43,571.25, attorneys' fees in the amount of $57,642.62, and a conditional award for attorneys' fees on appeal.
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