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UNIFIRST FEDERAL SAV. BANK v. AMERICAN INS. CO.

No. 89-2382.

905 F.2d 208 (1990)

UNIFIRST FEDERAL SAVINGS BANK f/k/a Poinsett County Savings & Loan Association, Appellant, v. The AMERICAN INSURANCE COMPANY, one of the Fireman's Fund Group of Insurance Companies, Appellee, v. JAMCO, INC., Appellee.

United States Court of Appeals, Eighth Circuit.

Decided June 5, 1990.

Attorney(s) appearing for the Case

Ben F. Arnold, Little Rock, Ark., for appellant.

James A. Knox and John W. Nassen, Dallas, Tex., for appellee.

Before ARNOLD, Circuit Judge, BRIGHT and ROSS, Senior Circuit Judges.

ROSS, Senior Circuit Judge.

Unifirst Federal Savings Bank (Unifirst) appeals from the district court's1 order granting summary judgment in the amount of $250,000 to the American Insurance Company. We affirm.

Jamco, Inc. subcontracted to perform certain electrical work on a construction project for Brown-Olds Corporation. Jamco obtained a "Performance Guarantee-Irrevocable Letter of Credit" in the amount of $250,000 from Unifirst...

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