Airlines Reporting Corp. v. Higginbotham

Burnie A. Higginbotham, Jr., brought this action against Airlines Reporting Corporation ("ARC") to recover $60,000 received by ARC through a letter of credit. The trial court held, among other things, that Higginbotham was the "real party in interest" and was entitled to bring this action. The trial court further held that Higginbotham's standing could be based on a "third-party beneficiary" theory or on a theory that he was the "true account party." The trial court then entered a judgment in favor of Higginbotham for $60,000. ARC appealed.

The dispositive issue on appeal is whether…