Vest v. Pilot Point National Bank

OPINION

WILLIAM BRIGHAM, Justice.

Appellants Freddy Vest (“Vest”) and Yellow Rose Custom Homes, Inc. (“Yellow Rose”) appeal the trial court’s grant of summary judgment in favor of Appellee Pilot. Point National Bank (“Bank”). In this appeal we will determine whether a beneficiary of a letter of credit which incorporates the Uniform Customs and Practices for Documentary Credits (“UCP”), upon presentation of a draft or demand for payment, must reasonably or strictly comply with the terms of the credit. For the following reasons, we affirm.

Procedural History

Appellants sued Appellee Bank and Denton…