Pioneer Bank & Trust Co. v. Seiko Sporting Goods, U.S.A. Co.

Defendant, Continental Illinois National Bank and Trust Company of Chicago, appeals from a judgment entered by the circuit court of Cook County against Continental and in favor of plaintiff, Pioneer Bank and Trust Company, as a result of the court’s finding that Continental had improperly made payments under a letter of credit and had wrongfully charged Pioneer’s account for the amount of those payments. On appeal, Continental contends that: (1) Pioneer waived its right to object to Continental’s payment of the drafts; (2) Pioneer failed to mitigate its damages; (3) Pioneer’s damages were not…