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WESTERN PETROLEUM CO. v. FIRST BANK ABERDEEN

No. 14625.

367 N.W.2d 773 (1985)

WESTERN PETROLEUM COMPANY, Plaintiff and Appellee, v. FIRST BANK ABERDEEN (N.A.), of Aberdeen, South Dakota, Defendant and Third-Party Plaintiff and Appellant, v. EAST SIDE 1 STOP, INC., a corporation; Gordon Diedtrich, a/k/a Gordon Diedrich; Keith Norman; and Loraine Diedtrich; Third-Party Defendants.

Supreme Court of South Dakota.

Decided May 8, 1985.

Attorney(s) appearing for the Case

William J. Pfeiffer and Forrest C. Allred, Aberdeen, for plaintiff and appellee.

Roy A. Wise of Richardson, Groseclose, Kornmann, Wyly, Wise & Klinkel and R.D. Miller, Aberdeen, for defendant and third-party plaintiff and appellant.

HENDERSON, Justice.

ACTION

This is an appeal by the Defendant, First Bank of Aberdeen (N.A.), hereinafter denominated the Bank, from a judgment of the trial court which held the Bank liable to Plaintiff, Western Petroleum Co., hereinafter denominated Western, for $17,000 plus interest based on a "letter of credit" issued by the Bank to Western. We reverse.

PARTIES

Western is a Minnesota corporation authorized to do business in South Dakota...

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