Breach of Contract—Surety’s Motion for Summary Judgment Dismissing Claims Based on a One Year Limitations Period for Filing an Action Denied—Issues of Fact as to Waiver and Estoppel Defenses Based on Allegations That Surety Lulled Claimants Into Not Commencing Litigation While the Claimants Were Responding to the Surety’s Document Requests—Owner’s Motion to Intervene Granted
An owner owned a real estate development and construction project. Plaintiff was the general contractor on the project. Defendant was a subcontractor. To guarantee the subcontractor’s performance, defendant (surety) issued surety bonds. The plaintiff made a claim against such a performance bond. The owner was named as one of the bond’s obligees. The bond provided that “[a]ny lawsuit by obligee under this bond must be instituted before the earlier of the following: (A) the expiration of one year from the date of substantial completion of the construction work under the subcontract, or (B) one year after principal ceased performing the construction work under the subcontract.”
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