Legal Opinion
National Shawmut Bank of Boston v. International Yarn Corp.
District Court, S.D. New York
Decided July 14, 1970No. 69 Civ. 4095PublishedCited by 3 opinions
1Opinion of the Court
MOTLEY, District Judge.
These consolidated actions arise out of the sale of yarn by an Italian corporation, Novaceta, to the defendant in the first action, International Yarn Corporation (IYC), a Puerto Rican corporation with a principal place of business in Cleveland, Tennessee and an office in New York City. The defendant in the second action, Mill Factors Corporation (Mill), a New York corporation, guaranteed Novaceta prompt payment for the yarn by IYC.
The yarn was purchased by an IYC order dated May 22, 1968. The three guarantees (identical as to terms) are dated June 3, 13, and 27, 1968…
2Cases cited3 opinions
- Auten v. AutenNew York Court of Appeals · 1954
- Girard Trust Corn Exchange Bank v. Brink's, Inc.Supreme Court of Pennsylvania · 1966
- Gusikoff v. Republic Storage Co.Appellate Division of the Supreme Court of the State of New York · 1934
3Cited by3 opinions
- First Nat. Bank of Sikeston, Mo. v. JEFFERSON S. & D., INC.District Court, S.D. Mississippi · 1971
- Bradford Trust Co. v. Merrill Lynch, Pierce, Fenner & Smith, Inc.District Court, S.D. New York · 1985
- First Construction Co. v. Tri-South Mortgage InvestorsSupreme Court of Minnesota · 1981