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Case Citations July 2015 through February 2016 [1] (2015-2016)

handle is hein.ali/relwsec0583 and id is 1 raw text is: 





                                         SECURITY




                                      DIVISION   II. SURETYSHIP

                               CHAPTER 5. SURETY AND CREDITOR

    §124. Non-Disclosure by Creditor

    E.D.Pa.2015. Quot. in sup., corns. (a), (b), and (c) cit. in sup. In a dispute over surety bonds established
    to guarantee employers' payment of fringe-benefit contributions to trust funds established for union
    employees, trust funds, as obligees under the surety-bond agreements, sued surety, after employers, as
    obligors, stopped making contributions to trust funds and surety refused to pay trust funds' claims under
    the bonds. This court granted in part trust funds' motion for summary judgment, holding that surety
    waived its defense that one of the bonds was invalid due to trust funds' fraudulent failure to disclose
  material facts during the issuance of the bond, because it failed to raise that affirmative defense in a
  pleading or other appropriate motion. The court cited Restatement of Security §124 in explaining that
  the nondisclosure of material facts was an act of fraud against the surety, and that an allegation of fraud
  had  to be raised as an affirmative defense under Pennsylvania law. Board of Trustees, Roofers Local No.
  30  Combined  Welfare Fund  v. International Fidelity Ins. Co., 63 F.Supp.3d 459, 473.




























  AL
wA ILIamao    For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.

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