Legal Opinion
United Equities Co. v. First National City Bank
Appellate Division of the Supreme Court of the State of New York
Decided May 11, 1976PublishedCited by 9 opinions
1Opinion of the CourtSilverman, J.
This is an appeal by defendant First National City Bank from a judgment of the Supreme Court for plaintiff United Equities Company ("Equities”) rendered after a nonjury trial. (84 Misc 2d 441.)
Plaintiff and defendant are both traders in foreign ex*155change, including forward or futures contracts. So far as foreign exchange is concerned, they are both in the same kind of business (although of course the bank does many other kinds of banking business).
On April 12, 1971, the parties entered into a contract for the purchase by plaintiff Equities from defendant bank of 360,000,000 Japanese yen for a…
2Cases cited3 opinions
- 407 East 61st Garage, Inc. v. Savoy Fifth Avenue Corp.New York Court of Appeals · 1968
- United Equities Co. v. First National City BankNew York Supreme Court · 1975
- Melton Pilalas & Co. v. First National City BankAppellate Division of the Supreme Court of the State of New York · 1963
3Cited by9 opinions
- Team Marketing USA Corp. v. Power Pact, LLCAppellate Division of the Supreme Court of the State of New York · 2007
- Phibro Energy, Inc. v. Empresa De Polimeros De Sines SarlDistrict Court, S.D. New York · 1989
- Constellation Energy Services of New York, Inc. v. New Water Street Corp.Appellate Division of the Supreme Court of the State of New York · 2017
- Macalloy Corp. v. Metallurg, Inc.Appellate Division of the Supreme Court of the State of New York · 2001
- Belgium v. Mateo Productions, Inc.Appellate Division of the Supreme Court of the State of New York · 2016
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