First State Bank v. Diamond Plastics Corp.

SIMMS, Justice.

Diamond Plastics Corporation (Diamond Plastics), defendant below, appeals the summary judgment entered by the trial court in favor of The First State Bank, Ketehum, Oklahoma, (Bank), appellee, on Bank’s declaratory action regarding liability on a letter of credit. Diamond Plastics claims Bank is liable for payment under the letter of credit as well as damages for wrongful dishonor of the credit. Both parties filed summary judgment motions, and the trial court found in favor of Bank on both. The Court of Ap- ■ peals reversed summary judgment for Bank and remanded with directions…