Savannah National Bank v. Haskins
Massachusetts Supreme Judicial Court
Bill in equity inserted in an original writ of summons and attachment, alleging that the defendants, doing business at Boston in this Commonwealth, under the firm of William Has-kins & Son, “ entered into a contract at said Boston with, and there issued a letter of credit bearing date February 6,1868, addressed to,” the plaintiffs, a corporation established at Savannah in the state of Georgia, “whereby the defendants agreed to honor drafts drawn on them by James T. Paterson,…
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Bill in equity inserted in an original writ of summons and attachment, alleging that the defendants, doing business at Boston in this Commonwealth, under the firm of William Has-kins & Son, “ entered into a contract at said Boston with, and there issued a letter of credit bearing date February 6,1868, addressed to,” the plaintiffs, a corporation established at Savannah in the state of Georgia, “whereby the defendants agreed to honor drafts drawn on them by James T. Paterson, at that time of said Savannah, to the amount of $5000 per month, at sight or on time; and that, relying on said…
1Opinion of the CourtColt, J.
The plaintiffs seek to enforce payment of certain drafts, drawn by Paterson upon the defendants, which, by their letter of credit containing an express promise to the plaintiffs, the defendants were bound on presentment to accept and pay. The drafts were discounted by the plaintiffs, sent on by mail for acceptance, and lost in course of transmission without fault of the plaintiffs. The death of the drawer made it imposssible to procure duplicates. The bill offers indemnity such as the court may order, and an affidavit of loss is annexed.
Considering the defendants’ letter of credit as a…
2Cases cited1 opinion
- Corbin v. CommonwealthCourt of Appeals of Kentucky · 1859
3Cited by6 opinions
- McCann v. RandallMassachusetts Supreme Judicial Court · 1888
- Keller v. Eureka Brick Machine Manufacturing Co.Missouri Court of Appeals · 1890
- McGregory v. McGregoryMassachusetts Supreme Judicial Court · 1871
- Smith v. NelsonSupreme Court of South Carolina · 1909
- Verdi v. PriceSupreme Court of New Jersey · 1941
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