Legal Opinion
Asociacion De Azucareros De Guatemala v. United States National Bank
Court of Appeals for the Ninth Circuit
Decided February 18, 1970No. 22693PublishedCited by 33 opinions
1Opinion of the Court
MERRILL, Circuit Judge:
By this diversity action appellee Association seeks recovery of sums allegedly due under an irrevocable letter of credit issued by appellant Bank. From judgment in favor of the Association the Bank has taken this appeal.
On June 7, 1966, the Bank issued an Irrevocable Commercial Letter of Credit to the Association. The letter related to a shipment of sugar sold by the Association to one Greenberg and consigned to him. By the letter the Bank agreed to pay 90 per cent1 of the invoice value of the sugar upon presentation of documents evidencing August shipment of “5,000…
2Cases cited1 opinion
- Dulien Steel Products, Inc., of Washington v. Bankers Trust CompanyCourt of Appeals for the Second Circuit · 1962
3Cited by33 opinions
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- Chase Manhattan Bank v. EquibankCourt of Appeals for the Third Circuit · 1977
- East Girard Savings Association v. Citizens National Bank and Trust Company of BaytownCourt of Appeals for the Fifth Circuit · 1979
- General Insurance Co. of America v. City of Colorado SpringsSupreme Court of Colorado · 1981
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