Peoples Heritage Bank v. City of Saco

GLASSMAN, Justice.

The City of Saco (Saco) appeals from a summary judgment entered by the Superi- or Court, Cumberland County, for the Peoples Heritage Bank (Bank) holding Saco liable to the Bank on its agreement to guarantee a loan made by the Bank to U.S. Peat, Inc. (U.S. Peat). Because the record reveals that there exists a genuine issue of material fact as to authority of Saco to guarantee the loan by the Bank to U.S. Peat, we vacate the judgment.

The Bank sued Saco on a loan guaranty agreement that unconditionally obligated Saco to repay the Bank’s loan to U.S. Peat. In response to a…