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STANDING ROCK HOUS. AUTH. v. TRI-COUNTY STATE BANK

Civ. No. 87-3024.

700 F.Supp. 1544 (1988)

STANDING ROCK HOUSING AUTHORITY, Plaintiff, v. TRI-COUNTY STATE BANK, INC., Defendant.

United States District Court, D. South Dakota, C.D.

September 15, 1988.

Attorney(s) appearing for the Case

Terry L. Pechota, Finch, Viken, Viken & Pechota, Rapid City, S.D., Mary Maywalt, James F. Wagenlander, Wagenlander & Associates, Denver, Colo., for plaintiff.

David J. Larson, Robert R. Schaub, Larson, Sundall, Larson, Schaub & Fox, P.C., Chamberlain, S.D., for defendant.

MEMORANDUM OPINION

DONALD J. PORTER, Chief Judge.

Plaintiff Standing Rock Housing Authority ("Standing Rock") brought this action to seek recovery on a $188,000 irrevocable standby letter of credit issued by Defendant Tri-County State Bank ("Tri-County"). The complaint is based on diversity jurisdiction. Standing Rock has moved for summary judgment, and Tri-County has filed a motion to dismiss.

I. FACTS

On August 7, 1985, Standing Rock...

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