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UNITED BONDING INSURANCE CO. v. GENERAL CABLE CORP.

No. 23966.

381 F.2d 753 (1967)

UNITED BONDING INSURANCE COMPANY, Appellant, v. GENERAL CABLE CORPORATION, Appellee.

United States Court of Appeals Fifth Circuit.

Rehearing Denied August 18, 1967.

Attorney(s) appearing for the Case

William T. Moore, D. Lloyd Zook, Moore & Moore, Miami, Fla., for appellant.

William Terrell Hodges, MacFarlane, Ferguson, Allison & Kelly, Tampa, Fla., for appellee.

Before BROWN and SIMPSON, Circuit Judges, and SUTTLE, District Judge.

JOHN R. BROWN, Circuit Judge.

The question in this case is whether a surety in the name of the equitable right of exoneration can force the obligee-creditor to wait for money admittedly owing by the principal until the asserted, but disputed, liability of a third party to the principal is litigated. The District Court held in the negative and, affirming, so do we.

The Surety1 for the Subcontractor,2

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