(Download) "Argonaut Insurance Company v. Abc Steel Products Co." by First District, Houston Court of Appeals of Texas ~ eBook PDF Kindle ePub Free
eBook details
- Title: Argonaut Insurance Company v. Abc Steel Products Co.
- Author : First District, Houston Court of Appeals of Texas
- Release Date : January 30, 1979
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 70 KB
Description
ABC agreed to sell and install steel warehouse doors to C. T. Lambert & Associates, Inc., a general contractor, for use in the construction of a mini-warehouse project in Richardson, Texas. Argonaut, pursuant to Tex. Rev. Civ. Stat. Ann. art. 5472d (Supp. 1978-1979), executed a statutory payment bond for Lambert which guaranteed the payment of all claims for labor and materials furnished Lambert in the construction of the project. ABC and Lamberts contract provided for a price of $133.34 per door. The contract further stipulated that Lambert would have a "25% cash discount for payment by 15th of month after installation (making your net discounted price $100.00 per door incl. applicable taxes)." ABC furnished and installed the doors as it agreed to do in the contract, but Lambert failed to pay for them. ABC then perfected its claim against Argonaut pursuant to the provisions of the payment bond it had made for Lambert. Argonaut tendered ABC the sum of $10,752.92, which represented only the net discounted price of $100.00 per door for the doors installed, plus interest and attorneys fees accruing to the date of the tender. ABC refused the tender on the ground it was entitled to the full contract price for the doors, rather than the discounted price, and it then filed suit against Argonaut and Lambert. The case first went to trial before the court, but after a day and a half a mistrial was declared. The second trial was to a jury which answered special issues to the effect that:
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