Legal Opinion
Bank of United States v. Seltzer
Appellate Division of the Supreme Court of the State of New York
Decided July 6, 1931PublishedCited by 5 opinions
1Opinion of the CourtMartin, J.
The defendant, a merchant in New York, entered into a contract with Tokizawa Shoten, a Japanese corporation, for the purchase of raw silk. The contract was in writing and provided for the establishment of a ninety-day letter of credit. The defendant applied to the plaintiff for the issuance of such a credit in favor of Tokizawa Shoten of Yokohama, Japan, under which drafts at ninety days’ sight were to be drawn by Tokizawa Shoten on the plaintiff, accompanied by documents representing the silk to be purchased.
The plaintiff, The Bank of United States, agreed to issue the letter of credit.…
2Cases cited5 opinions
- Moss v. Old Colony Trust Co.Massachusetts Supreme Judicial Court · 1923
- Bassett v. . LeslieNew York Court of Appeals · 1890
- Leslie v. . BassettNew York Court of Appeals · 1892
- Sexton v. FenstererAppellate Division of the Supreme Court of the State of New York · 1913
- Sexton v. . FenstererNew York Court of Appeals · 1914
3Cited by5 opinions
- J. Zeevi & Sons, Ltd. v. Grindlays BankNew York Court of Appeals · 1975
- Kingdom of Sweden v. New York Trust Co.New York Supreme Court · 1949
- In Re Canal Bank & Trust Co.'s LiquidationSupreme Court of Louisiana · 1933
- Greenough v. MunroeCourt of Appeals for the Second Circuit · 1931
- Alexander T. Stephan, Inc. v. Bank of United StatesAppellate Division of the Supreme Court of the State of New York · 1932