Ufitec, S. A. v. Trade Bank & Trust Co.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
Breitel, J. P.
Plaintiff, a Swiss corporation, sues to recover on a purported draft drawn against a traveler’s letter of credit issued by defendant bank, situated in New York City. Special Term granted summary judgment to plaintiff and denied the bank’s cross motion for summary judgment. The bank appeals.
The question involved is whether the holder of the draft complied with the conditions of the letter of credit, and if it did not, whether strict compliance was excused by the bank’s alleged anticipatory breach in revoking the letter of credit before it had expired by its own terms. Because it…
2Cases cited8 opinions
- Evansville National Bank v. KaufmannNew York Court of Appeals · 1883
- Courteen Seed Co. v. Hong Kong & Shanghai Banking Corp.New York Court of Appeals · 1927
- DeForest Radio Telephone & Telegraph Co. v. Triangle Radio Supply Co.New York Court of Appeals · 1926
- United States Overseas Airlines, Inc. v. Compania Aerea Viajes Expresos De Venezuela, S.A., Defendants-RespondentsCourt of Appeals for the Second Circuit · 1957
- Scholle v. Cuban-Venezuelan Oil Voting TrustCourt of Appeals for the Second Circuit · 1960
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3Cited by18 opinions
- Corporacion De Mercadeo Agricola v. Mellon Bank InternationalCourt of Appeals for the Second Circuit · 1979
- Record Club of America, Incorporated, Cross-Appellant v. United Artists Records, Incorporated, Cross-AppelleeCourt of Appeals for the Second Circuit · 1989
- Reprosystem, BV v. SCM Corp.District Court, S.D. New York · 1981
- Decor by Nikkei International, Inc. v. Federal Republic of NigeriaDistrict Court, S.D. New York · 1980
- Hadcock Motors, Inc. v. MetzgerAppellate Division of the Supreme Court of the State of New York · 1983
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