Opinion ID: 1676821
Heading Depth: 2
Heading Rank: 3

Heading: Acstar's Settlement and Assignment of Rights from Harbert

Text: Acstar also argues that the trial court failed to properly consider the fact that Acstar had an assignment of Harbert's rights against AMCI to the extent of its $680,000 settlement payment. [3] Thus, Acstar contends that even if the bonds were null and void, under this settlement and assignment of rights by Harbert to Acstar, any amount due from Acstar to AMCI should be set-off against this assignment. While this argument may have merit, our holding that the bonds were valid makes our consideration of this issue unnecessary. Under our holding that the bonds were valid and enforceable, Acstar would have the right to recover from AMCI, or from the indemnitors, the entire $680,000 it paid to Harbert pursuant to the settlement. Because we hold that the bonds were valid and enforceable, there is no need to calculate any set-off. We believe this result is preferable because the sum that Acstar is entitled to recover is consistent with its actions, and the actions of the other parties, from the inception of the surety relationship.