Middlesex Bank & Trust Co. v. Mark Equipment Corp.

INTRODUCTION

The plaintiff, Middlesex Bank & Trust Company (“Bank”), brings this action to obtain an injunction prohibiting it from honoring a demand for payment made pursuant to a standby letter of credit that it issued on behalf of the defendant Mark Equipment Corporation (“Mark”). This matter is before this Court on Mark’s Motion for Partial Summary Judgment on Count I of its counterclaim which alleges breach of contract by the Bank. After hearing, and upon review and consideration, Mark’s motion is DENIED for the following reasons.

BACKGROUND

The undisputed facts as revealed by the summary…