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LUMBERMANS ACCEPTANCE v. SECURITY PACIFIC NAT BANK

Docket No. 43289.

86 Cal.App.3d 175 (1978)

150 Cal. Rptr. 69

LUMBERMANS ACCEPTANCE COMPANY et al., Plaintiffs, Cross-defendants and Appellants, v. SECURITY PACIFIC NATIONAL BANK, Defendant, Cross-complainant and Respondent.

Court of Appeals of California, First District, Division Four.

November 8, 1978.

Attorney(s) appearing for the Case

COUNSEL

Charles M. Giovanetti and John E. Mahoney for Plaintiffs, Cross-defendants and Appellants.

Broad, Khourie & Schulz, Ronald Larson, Robert R. Cross and Richard A. Rogan for Defendant, Cross-complainant and Respondent.

OPINION

CHRISTIAN, J.

Lumbermans Mortgage Company, Lumbermans Acceptance Company and Ian T. Allison appeal from a summary judgment determining that Security Pacific National Bank is entitled to recover payments made on a $700,000 irrevocable letter of credit which Security Pacific had issued to Union Bank upon the application of Lumbermans Mortgage Company. Lumbermans Acceptance and...

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