Legal Opinion
Murphy v. Federal Deposit Insurance
Court of Appeals for the Ninth Circuit
Decided October 26, 1994No. Nos. 91-15511, 91-15640 and 91-15642PublishedCited by 10 opinions
1Opinion of the Court
KLEINFELD, Circuit Judge:
The beneficiary of a letter of credit sought to recover against the FDIC, after the issuing bank failed. The FDIC argues that recovery is barred by the D’Oench, Duhme doctrine and 12 U.S.C. § 1828(e). We reject these arguments. The traditional commercial law principle, that a letter of credit stands independent of irregularities in its procurement, survives bank failure. Our earlier decision, at 12 F.3d 1485 (9th Cir. 1993), is vacated.
I. Facts.
Mr. Murphy won his suit against the FDIC in a jury trial. The FDIC does not challenge any of the jury instructions. Its…
2Cases cited23 opinions
- Landgraf v. USI Film ProductsSupreme Court of the United States · 1994
- D'Oench, Duhme & Co. v. Federal Deposit InsuranceSupreme Court of the United States · 1942
- Langley v. Federal Deposit InsuranceSupreme Court of the United States · 1987
- Davis v. Mason CountyCourt of Appeals for the Ninth Circuit · 1991
- Davis & Cox, a Partnership, Plaintiff-Appellee/cross-Appellant v. Summa Corporation, Defendant-Appellant/cross-Appellee. Chester C. Davis, Plaintiff-Appellee/cross-Appellant v. Summa Corporation, Defendant-Appellant/cross-Appellee. Summa Corporation, Defendant-Counterclaimant/appellant v. Davis & Cox, a Partnership, Chester C. Davis, Maxwell E. Cox, Howard M. Jaffe and Martin Cook, Plaintiffs-Counterdefendants/appellees. Summa Corporation, Hughes Aircraft Corporation, Defendants- Counterclaimants/appellants v. Chester C. Davis, Davis & Cox, Maxwell E. Cox, Howard M. Jaffe and D. Martin Cook, Counterdefendants/appelleesCourt of Appeals for the Ninth Circuit · 1985
18 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Harper v. City of Los AngelesCourt of Appeals for the Ninth Circuit · 2008
- Bethney Lovo v. Loren MillerCourt of Appeals for the Fourth Circuit · 2024
- Patrick J. Murphy v. Federal Deposit Insurance Corporation, Patrick J. Murphy, an Individual Murphy's Markets, Inc., a California Corporation Ramsey Marketing and Management Co. ("Ramco"), Aka: Ramsay Marketing and Management Co., a California Corporation v. Federal Deposit Insurance Corporation, Federal Deposit Insurance Corporation First National Bank v. Patrick J. MurphyCourt of Appeals for the First Circuit · 1994
- OCI Mortgage Corp. v. MarcheseSupreme Court of Connecticut · 2001
- Bd of Trustees Glazing Health v. Shannon ChambersCourt of Appeals for the Ninth Circuit · 2018
5 more not listed; retrieve them via the Exa API.