Industrial Export & Import Corp. v. Hongkong & Shanghai Banking Corp.

This action involves a transaction in international exchange which took place just prior to the outbreak of World War n.

At the close of a jury trial in Supreme Court both parties moved for a directed verdict. Thereafter the Trial Justice directed a verdict in favor of the defendant dismissing the complaint “ for failure of proof, without prejudice". * At the Appellate Division the judgment entered at Trial Term was affirmed, two Justices dissenting.

The record discloses the following undisputed facts: The plaintiff, Industrial Export and Import Corp., is a New York corporation whose officers…