Legal Opinion
Western Security Bank v. Superior Court
California Supreme Court
Decided April 7, 1997No. S037504PublishedCited by 191 opinions
1Opinion of the Court
Opinion
CHIN, J.
This case concerns the extent to which two disparate bodies of law interact when standby letters of credit are used as additional support for *237loan obligations secured by real property. On one side we have California’s complex web of foreclosure and antideficiency laws that circumscribe enforcement of obligations secured by interests in real property. On the other side is the letter of credit law’s “independence principle,” the unique characteristic of letters of credit essential to their commercial utility.
The antideficiency statute invoked in this case is Code of Civil…
2Cases cited29 opinions
- Evangelatos v. Superior CourtCalifornia Supreme Court · 1988
- In Re Marriage of BouquetCalifornia Supreme Court · 1976
- Bodinson Manufacturing Co. v. California Employment CommissionCalifornia Supreme Court · 1941
- Aetna Casualty & Surety Co. v. Industrial Accident CommissionCalifornia Supreme Court · 1947
- Roseleaf Corp. v. ChierighinoCalifornia Supreme Court · 1963
24 more not listed; retrieve them via the Exa API.
3Cited by191 opinions
- Nano Maldonado v. Tony Harris, in His Capacity as Acting Director of the California Department of TransportationCourt of Appeals for the Ninth Circuit · 2004
- David Valles John Breslin, and Members of the General Public Similarly Situated v. Ivy Hill CorporationCourt of Appeals for the Ninth Circuit · 2005
- Myers v. Philip Morris Companies, Inc.California Supreme Court · 2002
- Hunt v. Superior CourtCalifornia Supreme Court · 1999
- Jensen v. Wells Fargo BankCalifornia Court of Appeal · 2000
186 more not listed; retrieve them via the Exa API.