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JamesLu JamesLu
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6 years ago
State X hired Build-Right Construction to build a bridge. State X required that construction be completed within 2 years after the contract was signed. Les Johnson is the president of Build-Right. State X required that Build-Right's promise to perform be guaranteed by a third party. Build-Right purchased a performance bond from Rock Solid Indemnity. The bond requires Rock Solid to be responsible if Build-Right does not have the project completed on time. In this scenario, which party is the principal?
A) State X
B) Build-Right Construction
C) Les Johnson
D) Rock Solid Indemnity
Textbook 
Principles of Risk Management and Insurance

Principles of Risk Management and Insurance


Edition: 12th
Authors:
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Toni_AnnetteToni_Annette
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6 years ago
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JamesLu Author
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6 years ago
Correct Slight Smile TY
apelton
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Yesterday
this is exactly what I needed
ethom947
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2 hours ago
Good timing, thanks!
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