Joe Schwartz is the principal stockholder in a small construction company specializing in concrete work. He needs

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Joe Schwartz is the principal stockholder in a small construction company specializing in concrete work. He needs a performance bond to obtain a contract to build a city swimming pool. However, the surety company has refused to issue the bond unless Schwartz personally signs a co-indemnity agreement under whose terms he will personally be responsible for the obligation assumed by his corporation. He feels this defeats the whole purpose of a corporation and maintains the surety company is being unreasonable. What do you think?

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Fundamentals Of Risk And Insurance

ISBN: 978-1118534007

11th Edition

Authors: Emmett J. Vaughan ,Therese M. Vaughan

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