In March, 1966, three corporations (Skyway companies) owned by the individual defendants Colangione obtained a roofing subcontract for a construction project at Syracuse University from the general contractor, Vincent J. Smith, Inc. (Smith). The subcontract was conditioned upon the Skyway companies' obtaining payment and performance bonds. Plaintiff Continental Insurance Company's (Continental's) predecessor in interest issued the bonds, after, in turn, exacting an indemnity...
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