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HOUSING SECURITIES, INC. v. MAINE NAT. BANK

391 A.2d 311 (1978)

HOUSING SECURITIES, INC. and Builders Investment Group v. MAINE NATIONAL BANK.

Supreme Judicial Court of Maine.

September 6, 1978.

Attorney(s) appearing for the Case

Eaton, Peabody, Bradford & Veague by Bernard J. Kubetz (orally), Arnold L. Veague, Bangor, for plaintiffs.

Strout, Payson, Pellicani & Cloutier by Arthur E. Strout (orally), Rockland, for defendant.

Before POMEROY, WERNICK, ARCHIBALD, DELAHANTY, GODFREY and NICHOLS, JJ.

WERNICK, Justice.

On October 1, 1974, plaintiffs Housing Securities, Inc. and Builders Investment Group commenced an action in the Superior Court (Knox County) against defendant Maine National Bank. Plaintiffs sought $60,000.00 in damages for the wrongful dishonor of a demand for payment under an irrevocable letter of credit issued by defendant. On October 18, 1976, after submission of the case on an agreed "Stipulation of...

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