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JAMES TALCOTT CONST. v. P & D LAND ENT.

No. 93-201.

862 P.2d 395 (1993)

JAMES TALCOTT CONSTRUCTION, INC., a Montana corporation, Plaintiff and Appellant, v. P & D LAND ENTERPRISES, a joint venture consisting of NDI, Inc., a Montana corporation; Sterling Investments, Inc., a Montana corporation; and BVL/Whitefish, a California corporation; Dan L. Averill; NDI, Inc.; Sterling Investments, Inc.; BVL/Whitefish; Edsel J. Aucoin and D'Anne L. Aucoin; J. Stephens Allan and Marjorie J. Allan; P & D Enterprises; James R. Olson, as Trustee for the Jomar Retirement Trust; Kenneth W. Sutton; Ellen W. Weeks; Donald J. Corvan and Elaine Corvan; Edward W. Collins and Doris a. Collins; Lawrence F. Rooney and Rosalia Rooney; Robert J. Kimball; William H. Kimball, Jr.; William R. Connors and Kim M. Connors; Mark Poad; Todd Erickson and Renee Erickson; Aveco Properties, Inc.; Adrienne J. Bell; Dorothy R. Chianelli and Gerald W. Chianelli, as Co-Trustees of the Dorothy R. Chianelli Trust, Defendants and Respondents.

Supreme Court of Montana.

Decided October 26, 1993.

Attorney(s) appearing for the Case

Jack L. Lewis and William J. Jacobsen, Jardine, Stephenson, Blewett & Weaver, P.C., Great Falls, for appellant.

Daniel W. Hileman, Murray & Kaufman, P.C., and Randall Ogle, Ogle & Worm, Kalispell, for respondents.

TURNAGE, Chief Justice.

James Talcott Construction, Inc. (Talcott), appeals from an order of the District Court for the Eleventh Judicial District, Flathead County, approving a letter of credit as a surety bond. We reverse and remand for further proceedings consistent with this Opinion.

The issue is whether the letter of credit constitutes a surety bond within the meaning of § 71-3-551, MCA.

Talcott brought this action to foreclose upon a construction...

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