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Contract — Surety – Real Property – Development Bonds – Municipal (access required)

Developers Surety & Indemnity Co. v. City of Durham (Lawyers Weekly No. 14-03-0928, 28 pp.) (L. Patrick Auld, USMJ) 1:11-cv-00515; M.D.N.C. Holding: Even though two developers went bankrupt and failed to complete the subdivisions they were developing, the plaintiff-sureties’ “street and sidewalk” bonds –in plain language chosen by the defendant-city – only require the sureties to ...

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