KISTLER, J.
The trial court ruled that neither the applicant nor the issuer on a standby letter of credit can be subrogated to the beneficiary's claims. The court accordingly granted defendants' motion to dismiss plaintiff's equitable subrogation claims, denied plaintiff leave to replead, and entered judgment on those claims. We reverse and remand.
In 1993, defendant Fibrex & Shipping Co., Inc., entered into an agreement to purchase timber in Montana....
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