Legal Opinion
San Diego Gas & Electric Co. v. Bank Leumi
California Court of Appeal
Decided February 15, 1996No. D020429PublishedCited by 16 opinions
1Opinion of the Court
Opinion
KREMER, P. J.
The instant litigation stems from defendant Bank Leumi’s refusal to honor a draft presented by San Diego Gas & Electric Company (SDG&E) on a “standby” letter of credit issued by Bank Leumi (the Bank). The Bank appeals from a summary judgment in favor of SDG&E. We are asked to consider whether a beneficiary under a standby letter of credit owes the issuer of the letter of credit a duty to mitigate damages and, irrespective of any duty to mitigate, whether any actual mitigation entitles the issuer to a corresponding reduction of the beneficiary’s recovery under the letter of…
2Cases cited14 opinions
- Dibrell Brothers International S.A., Plaintiff-Counter-Defendant-Appellant v. Banca Nazionale Del Lavoro, Defendant-Counter-Claimant-AppelleeCourt of Appeals for the Eleventh Circuit · 1994
- Intraworld Industries, Inc. v. Girard Trust BankSupreme Court of Pennsylvania · 1975
- East Girard Savings Association v. Citizens National Bank and Trust Company of BaytownCourt of Appeals for the Fifth Circuit · 1979
- Colorado National Bank of Denver v. Board of County CommissionersSupreme Court of Colorado · 1981
- New York Life Insurance v. Hartford National Bank & Trust Co.Supreme Court of Connecticut · 1977
9 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Western Security Bank v. Superior CourtCalifornia Supreme Court · 1997
- In Re James S. Hamada, Debtor. James S. Hamada v. Far East National Bank, a California CorporationCourt of Appeals for the Ninth Circuit · 2002
- Morgan Creek Residential v. KempCalifornia Court of Appeal · 2007
- California Bank & Trust v. Piedmont Operating PartnershipCalifornia Court of Appeal · 2013
- Banca Del Sempione v. Provident Bank of MarylandCourt of Appeals for the Fourth Circuit · 1998
11 more not listed; retrieve them via the Exa API.