OPINION OF THE COURT
MEMORANDUM.
The order of the Appellate Division should be affirmed, with costs.
Defendant, Fred Holt, Inc., entered into a subcontract with plaintiff, Walter Concrete Construction Corporation, to perform construction work on a building project for defendant Lederle Laboratories. Third-party defendant International Fidelity Insurance Company issued a standard subcontract performance bond for the project, naming Walter as the principal...
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