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TRANSAMERICA INS. CO. v. BARNETT BANK OF MARION COUNTY, N.A.

No. 86-1328.

524 So.2d 439 (1988)

TRANSAMERICA INSURANCE COMPANY, Appellant, v. BARNETT BANK OF MARION COUNTY, N.A., Appellee.

District Court of Appeal of Florida, Fifth District.

Rehearing Denied May 6, 1988.

Attorney(s) appearing for the Case

Robert E. Morris of Morris & Rosen, P.A., Tampa, for appellant.

Tim Haines and Young J. Simmons of Green, Simmons, Green, Hightower & Gray, P.A., Ocala, for appellee.

COWART, Judge.

This case involves the question of priority between a bank which financed a contractor, and a surety company which guaranteed the contractor's payment or performance, as to earned but unpaid sums due from an owner to a contractor when the contractor defaults on a construction contract1.

I. BACKGROUND

To place this case in proper perspective, a general discussion of the relationship between owners, contractors...

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