Defendant Valere Deschaine, doing business as Greene County Pulp and Lumber Company (Deschaine), entered into a contract with defendant Town of Cairo to perform site development for the new town hall and library. Pursuant to the contract, a performance bond and labor and material bond were issued by defendant International Fidelity Insurance Company (International). Deschaine defaulted in the performance of the contract and, during July, 1979, entered into an agreement with...
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