LORA, J.S.C.
Broadway National Bank of Bayonne (Broadway) loaned money to defendant contractor Fred Kolman, t/a Colorama, who subsequently defaulted on his contract with the Board of Education of the City of Bayonne for certain repair work at several schools. The purpose of the loan was to enable Kolman to pay his laborers and acquire supplies.
International Fidelity Insurance Company (International), the surety of the contractor, refuses to pay Broadway,...
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