Legal Opinion
Auto Servicio San Ignacio v. Compania Anonima Venezolana De Navegacion
Court of Appeals for the Fifth Circuit
Decided July 22, 1985No. 84-3460PublishedCited by 4 opinions
1Opinion of the Court
PATRICK E. HIGGINBOTHAM, Circuit Judge:
This case concerns an international letter of credit issued by the Banco de Maracaibo of Venezuela on behalf of plaintiff Auto Servició San Ignacio, S.R.L., a Venezuelan corporation. We must decide whether an advising, confirming, and paying bank on such a letter of credit owes any duty of care under Louisiana tort law to the customer of the bank that issued the credit; whether one to two years is a reasonable length of time for the issuing bank to wait before asserting a claim against the advising, confirming, and paying bank that the credit was paid on…
2Cases cited3 opinions
- Philadelphia Gear Corporation v. Central BankCourt of Appeals for the Fifth Circuit · 1983
- Instituto Nacional De Comercializacion Agricola (INDECA) v. Continental Illinois National Bank & Trust Co.District Court, N.D. Illinois · 1982
- Auto Servicio San Ignacio, S.R.L. v. Compania Anonima Venezolana De NavegacionDistrict Court, E.D. Louisiana · 1984
3Cited by4 opinions
- Federal Deposit Insurance Corporation, as Receiver of Penn Square Bank, N.A. v. The Liberty National Bank & Trust Co., Federal Deposit Insurance Corporation, as Receiver of Penn Square Bank, N.A. v. Utica National Bank and Trust CompanyCourt of Appeals for the Tenth Circuit · 1986
- Auto Servicio San Ignacio, S.R.L. v. Compania Anonima Venezolana De Navegacion (Venezuelan Line), the Aetna Casualty & Surety Co., Defendant-Third Party v. Hibernia National Bank, Third PartyCourt of Appeals for the Third Circuit · 1985
- Mueller Company v. South Shore BankCourt of Appeals for the First Circuit · 1993
- Mueller Company v. South Shore BankCourt of Appeals for the First Circuit · 1993