Legal Opinion
Courtaulds North America, Inc. v. North Carolina National Bank, a National Banking Association
Court of Appeals for the Fourth Circuit
Decided December 30, 1975No. 75--1291PublishedCited by 63 opinions
1Opinion of the Court
BRYAN, Senior Circuit Judge:
A letter of credit with the date of March 21, 1973 was issued by the North Carolina National Bank at the request of and for the account of its customer, Adastra Knitting Mills, Inc. It made available upon the drafts of Courtaulds North America, Inc. “up to” $135,000.00 (later increased by $135,000.00) at “60 days date” to cover Adastra’s purchases of acrylic yarn from Courtaulds. The life of the credit was extended in June to allow the drafts to be “drawn and' negotiated on or before August 15,1973.”
Bank refused to honor a draft for $67,346.77 dated August 13, 1973…
2Cases cited6 opinions
- Venizelos, S.A. v. Chase Manhattan BankCourt of Appeals for the Second Circuit · 1970
- Banco Espanol De Credito v. State Street Bank and Trust Company, (Two Cases)Court of Appeals for the First Circuit · 1967
- Lamborn v. . the Lake Shore Banking and Trust CompanyNew York Court of Appeals · 1921
- Crocker First Nat. Bank of San Francisco v. De SousaCourt of Appeals for the Ninth Circuit · 1928
- International Banking Corp. v. Irving Nat. BankCourt of Appeals for the Second Circuit · 1922
1 more not listed; retrieve them via the Exa API.
3Cited by63 opinions
- O'Grady v. First Union National BankSupreme Court of North Carolina · 1978
- Marino Industries Corp., Cross-Appellee v. The Chase Manhattan Bank, N.A., Cross-AppellantCourt of Appeals for the Second Circuit · 1982
- Philadelphia Gear Corporation v. Central BankCourt of Appeals for the Fifth Circuit · 1983
- Chase Manhattan Bank v. EquibankCourt of Appeals for the Third Circuit · 1977
- East Girard Savings Association v. Citizens National Bank and Trust Company of BaytownCourt of Appeals for the Fifth Circuit · 1979
58 more not listed; retrieve them via the Exa API.