Legal Opinion
Blonder & Co. v. Citibank, N.A.
Appellate Division of the Supreme Court of the State of New York
Decided January 31, 2006PublishedCited by 11 opinions
1Opinion of the Court
OPINION OF THE COURT
Andrias, J.
A commercial letter of credit transaction involves three separate contractual relationships: the underlying contract for the purchase and sale of goods; the agreement between the issuer and its customer; and the letter of credit itself, in which the issuer undertakes to honor drafts or other demands for payment presented by the beneficiary or its transferee upon compliance with the terms and conditions specified in the letter of credit. The issuer’s obligation to pay is fixed upon presentation of the drafts and the documents specified in the letter of credit. It…
2Cases cited5 opinions
- Schmidt v. Magnetic Head Corp.Appellate Division of the Supreme Court of the State of New York · 1983
- First Commercial Bank v. Gotham Originals, Inc.New York Court of Appeals · 1985
- Buchholz v. Trump 767 Fifth Avenue, LLCNew York Court of Appeals · 2005
- Knolls, Inc. v. Webster Town Center PartnershipAppellate Division of the Supreme Court of the State of New York · 1995
- Buchholz v. Trump 767 Fifth AvenueAppellate Division of the Supreme Court of the State of New York · 2004
3Cited by11 opinions
- Art & Fashion Group Corp. v. Cyclops Production, Inc.Appellate Division of the Supreme Court of the State of New York · 2014
- Banco Nacional De México, S.A. v. Societe GeneraleAppellate Division of the Supreme Court of the State of New York · 2006
- Cheri Restaurant Inc. v. EocheAppellate Division of the Supreme Court of the State of New York · 2016
- TradeCard, Inc. v. S1 CORP.District Court, S.D. New York · 2007
- Gemeaux Ltd. v. William Doyle Galleries Inc.Appellate Division of the Supreme Court of the State of New York · 2022
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