Douglaston Electric Sales, Inc. v. Royal Bank of Canada

OPINION OF THE COURT

Margett, J.

In the summer of 1977, three shipments of electrical equipment arrived at the pier in Santo Domingo. Although the goods were fully paid for by the vendee in Dominican pesos, the Santo Domingo branch of the collecting bank was never able to obtain foreign exchange in United States dollars for the full amount of the proceeds. The issue at bar is whether summary judgment was properly granted to the collecting bank in an action against it by the vendor of the goods.

Since at least June, 1975, plaintiff has been exporting electrical equipment to the Dominican…