ROWE, Justice.
This is a suit on an indemnity agreement. The Travelers Indemnity Company (Travelers), as surety, for the benefit of its principal, Texas Business Travel, Ltd. (Texas Business), issued a bond to Air Traffic Conference of America (ATC), as obligee, covering the obligations of Texas Business to remit for its airline ticket sales in compliance with the ATC Passenger Sales Agreement. In consideration for the execution of this bond, Texas Business and John...
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