American Steel Co. v. Irving Nat. Bank
Court of Appeals for the Second Circuit
In Error to the District Court of the United States for the Southern District of New York. Action by the American Steel Company against the Irving National Bank. Judgment for defendant, and plaintiff brings error. The plaintiff is a corporation -organized under the laws of the state of Pennsylvania. The defendant is a banking corporation organized, under the laws of the United States, and is a citizen of the state of New York, residing in the Southern district thereof.
1Opinion of the Court
ROGERS, Circuit Judge.
[1] This is an action to recover the sum of $42,336 and interest upon a draft drawn by the plaintiff upon the defendant, and presented to the latter for payment on April 24, 1918. Payment was refused for a reason presently to be stated. The draft was drawn pursuant to a letter of irrevocable export credit issued by defendant and which was in the following form:
“American Steel Company, Park Building, Pittsburgb, Pa. — Gentlemen: You are hereby authorized to draw upon us for account of MacDonnell Chow Corporation at sight to the extent of forty-three thousand two hundred…
2Cases cited1 opinion
- Gelpcke v. . QuentellNew York Court of Appeals · 1878
3Cited by24 opinions
- Kmw International v. Chase Manhattan Bank, N. A.Court of Appeals for the Second Circuit · 1979
- Second Nat. Bank v. Columbia Trust Co.Court of Appeals for the Third Circuit · 1923
- Old Colony Trust Co. v. Lawyers' Title & Trust Co.Court of Appeals for the Second Circuit · 1924
- Pan-American Bank & Trust Co. v. National City Bank of New YorkCourt of Appeals for the Second Circuit · 1925
- International Banking Corp. v. Irving Nat. BankCourt of Appeals for the Second Circuit · 1922
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