Shaanxi Jinshan Tci Electronics Corporation v. Fleetboston Financial Corporation

We address cross appeals arising from the refusal of BayBank, N.A. (BayBank), the predecessor in interest of Fleet National Bank, 2 to make payment on a standby letter of credit. A judge of the Superior Court granted summary judgment in favor of the plaintiff, Shaanxi Jinshan TCI Electronics Corporation (Shaanxi), for wrongful dishonor of the letter of credit. At the same time, he granted summary judgment for the defendants on Shaanxi’s claims of misrepresentation and violation of G. L. c. 93A, § 11. These cross appeals followed. The defendants contend principally that the absence of a proper…