STEVENS, Judge.
The question before us is the date upon which the one year statute of limitations commences to run in favor of the surety on a contractor's bond where the basis of the action is the failure of the principal, the contractor, to perform the construction contract. The chronology of dates is as follows:
1 July 1962: A contractor's bond wherein S.G.S. Construction Company, a duly licensed contractor, was the principal and the appellee, Great American...
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