Legal Opinion
Armac Industries, Ltd. v. Citytrust
Supreme Court of Connecticut
Decided May 5, 1987No. 13022PublishedCited by 13 opinions
1Opinion of the CourtPeters, C. J.
The decisive question in this case is whether an issuing bank rightfully dishonored a demand for payment of a letter of credit because of discrepancies between the demand and the terms of the letter of credit. The plaintiff, Armac Industries, Ltd., the designated beneficiary of an irrevocable letter of credit, brought an action against the defendant Citytrust to recover $49,766.41, the face amount of the credit issued by the defendant at the request of its customer, Pac Corporation. After a hearing, the trial court rendered judgment for the defendant and the plaintiff has appealed.
The facts…
2Cases cited20 opinions
- Westwind Exploration, Inc. v. Homestate Savings Ass'nTexas Supreme Court · 1985
- Maurice O'Meara Co. v. National Park BankNew York Court of Appeals · 1925
- Barclays Bank D. C. O. v. Mercantile National BankCourt of Appeals for the Fifth Circuit · 1973
- Philadelphia Gear Corporation v. Central BankCourt of Appeals for the Fifth Circuit · 1983
- Courtaulds North America, Inc. v. North Carolina National Bank, a National Banking AssociationCourt of Appeals for the Fourth Circuit · 1975
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3Cited by13 opinions
- Capri v. MurphyCourt of Appeals for the Second Circuit · 1988
- Daley v. City of HartfordSupreme Court of Connecticut · 1990
- Leaseamerica Corporation v. Norwest Bank Duluth, N.A.Court of Appeals for the Eighth Circuit · 1991
- Fleet Bank v. DowlingSupreme Court of Connecticut · 1993
- Osten Meat Co. v. First of America Bank-Southeast MichiganMichigan Court of Appeals · 1994
8 more not listed; retrieve them via the Exa API.