Exotic Traders Far East Buying Office v. Exotic Trading U.S.A., Inc.

MEMORANDUM

TAURO, District Judge.

This case involves two different contracts for the sale of goods between the plaintiff, Exotic Traders Far East Buying Office (hereinafter “seller”) 1 , and defendant, Exotic Trading U.S.A. Inc. (herein after “buyer”). Payment for the goods, electronic stun guns and holsters, was secured via two irrevocable documentary letters of credit issued by BayBank Boston.

BayBank’s refusal to honor demands for payment under either of the letters of credit and the buyer’s failure to pay for the goods gave rise to seller’s complaint. Buyer counterclaimed against seller for…