(Download) "State V. Safeco Insurance Co." by New Mexico Court of Appeals * eBook PDF Kindle ePub Free
eBook details
- Title: State V. Safeco Insurance Co.
- Author : New Mexico Court of Appeals
- Release Date : January 08, 1983
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 61 KB
Description
Conley Lott Nichols Machinery Company (Lessor) brought suit against J.H. Ryan & Sons, Inc. (Contractor) and Safeco Insurance Company of America (Surety) for alleged failure to pay amounts due under heavy equipment leases. The Surety was joined under its obligation on a payment bond pursuant to NMSA 1978, § 13-4-19. Lessor filed suit against Contractor alleging that Contractor owed rental payments of $234,750 of the last two months of the lease periods, plus charges for overtime use of the equipment, and attorneys fees for enforcement of the contract. The Contractor denied Lessor's allegations, asserted a number of affirmative defenses, including negligent misrepresentation by Lessor, and counterclaimed against Lessor to recover damages for breach of contract and for alleged negligent misrepresentation. The jury returned a verdict in favor of Lessor in the amount of $289,739.77 against Contractor and Surety, and also found for Lessor and against the Contractor on its counterclaims. All parties herein have filed separate appeals from the judgment entered on the jury verdict.