Legal Opinion

Washington Federal Savings & Loan Ass'n v. Prince George's County

Court of Special Appeals of Maryland

Decided July 6, 1989No. 1762, September Term, 1988PublishedCited by 1 opinion

1Opinion of the Court

ROBERT M. BELL, Judge.

It is now well settled that, in Maryland, the demand of a beneficiary under a letter of credit must strictly comply with the terms and conditions of the letter of credit. Mercantile-Safe Dep. v. Baltimore County, 309 Md. 668, 670, 526 A.2d 591 (1987). The reasons for, and limitations on, the rule were clearly stated by the Court of Appeals:

We think the strict compliance test best promotes the purposes of letters of credit. However laudable the equitable considerations underlying the substantial compliance standard may be, “[t]he basic tenets of letters-of-credit law…

2Cases cited8 opinions

Affiliated Distillers Brands Corp. v. R. W. L. Wine & Liquor Co.Court of Appeals of Maryland · 1957
Mullan Contracting Co. v. International Business MacHines Corp.Court of Appeals of Maryland · 1959
Atlantic States Construction Co. v. Drummond & Co.Court of Appeals of Maryland · 1968
Madore v. Baltimore CountyCourt of Special Appeals of Maryland · 1976
Dialist Co. v. PulfordCourt of Special Appeals of Maryland · 1979

3 more not listed; retrieve them via the Exa API.

3Cited by1 opinion

Bisker v. Nationsbank, N.A.District of Columbia Court of Appeals · 1996