Legal Opinion
Exxon Company, U.S.A., a Division of Exxon Corporation, Cross-Appellant v. Banque De Paris Et Des Pays-Bas, Cross-Appellee
Court of Appeals for the Fifth Circuit
Decided October 8, 1987No. 87-2007PublishedCited by 12 opinions
1Opinion of the Court
ALVIN B. RUBIN, Circuit Judge:
Standby letters of credit are issued by banks to assure the prompt payment of money to a party to another contract in the event that the other contract is not performed in accordance with its terms. The issuing bank is required to make payment only if it is presented with specified documents. The function of letters of credit requires that they be succinct and clear, for their utility lies in the assurance they provide that payment will be made on the specified terms without delay or litigation.
In this action for the wrongful dishonor of a letter of credit on…
2Cases cited12 opinions
- Republic National Bank of Dallas v. Northwest National Bank of Fort WorthTexas Supreme Court · 1979
- Venizelos, S.A. v. Chase Manhattan BankCourt of Appeals for the Second Circuit · 1970
- Philadelphia Gear Corporation v. Central BankCourt of Appeals for the Fifth Circuit · 1983
- East Girard Savings Association v. Citizens National Bank and Trust Company of BaytownCourt of Appeals for the Fifth Circuit · 1979
- Richland Plantation Company v. Justiss-Mears Oil Company, Inc.Court of Appeals for the Fifth Circuit · 1982
7 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Exxon Company, U.S.A., a Division of Exxon Corporation, Cross-Appellant v. Banque De Paris Et Des Pays-Bas, Cross-AppelleeCourt of Appeals for the Fifth Circuit · 1990
- In the Matter of Coral Petroleum, Inc., Debtor. Tradax Petroleum American, Inc. v. Coral Petroleum, Inc.Court of Appeals for the Fifth Circuit · 1989
- In Re OrsoUnited States Bankruptcy Court, M.D. Louisiana · 1998
- Timber Falling Consultants, Inc. v. General BankDistrict Court, D. Oregon · 1990
- Exxon Company, U.S.A., a Division of Exxon Corporation, Cross-Appellant v. Banque De Paris Et Des Pays-Bas, Cross-AppelleeCourt of Appeals for the Fifth Circuit · 1989
7 more not listed; retrieve them via the Exa API.