Searching over 5,500,000 cases.


searching
Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.

United States v. Peerless Casualty Co.

May 24, 1966

UNITED STATES OF AMERICA
v.
PEERLESS CASUALTY COMPANY, APPELLANT.



Before STALEY, Chief Judge, and McLAUGHLIN and SMITH, Circuit Judges.

Per Curiam.

This action was commenced by the United States to recover for the breach of an appearance bond executed by the Peerless Casualty Company. After Peerless had conceded that the bond had been breached, the district court concluded that the provision in the bond for the payment of five thousand dollars in the event of breach "was, in [its] opinion, a reasonable forecast of just compensation * * *" and granted the government's motion for summary judgment.

Though Peerless raises several issues before us, the essential question is whether the district court erred in concluding as a matter of law that the provision was not penal, and therefore, enforcible. We think that the district court committed no error in holding that five thousand dollars properly constituted liquidated damages. See 5 Corbin, Contracts § 1062 at 355-356; 3 Williston, Contracts §§ 775 et seq.

The judgment of the district court will be affirmed.

19660524

© 1998 VersusLaw ...

Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.