Legal Opinion
Philadelphia Gear Corporation v. Central Bank
Court of Appeals for the Fifth Circuit
Decided November 17, 1983No. 82-3294PublishedCited by 68 opinions
1Opinion of the Court
GEE, Circuit Judge:
The terrain of the present appeal is a failed business transaction, one that culminated in several and mutual allegations of failure to honor contractual obligations. The contract at issue is a documentary letter of credit.1 The district court determined that the issuing bank wrongfully dishonored drafts presented pursuant to the letter of credit. In consequence, it ordered the issuer to pay the face value of all drafts presented. Because we conclude that the district court did not strike the correct balance between the parties’ competing duties and obligations, we reverse…
2Cases cited11 opinions
- Venizelos, S.A. v. Chase Manhattan BankCourt of Appeals for the Second Circuit · 1970
- Productos Carnic, S.A., a Nicaraguan Corporation v. Central American Beef and Seafood Trading Company, a Florida Corporation v. United States Cold Storage, an Unincorporated Division of American Consumer Industries, a New York CorporationCourt of Appeals for the Fifth Circuit · 1980
- Sztejn v. J. Henry Schroder Banking Corp.New York Supreme Court · 1941
- Corporacion De Mercadeo Agricola v. Mellon Bank InternationalCourt of Appeals for the Second Circuit · 1979
- Courtaulds North America, Inc. v. North Carolina National Bank, a National Banking AssociationCourt of Appeals for the Fourth Circuit · 1975
6 more not listed; retrieve them via the Exa API.
3Cited by68 opinions
- Enterprise International, Inc. v. Corporacion Estatal Petrolera EcuatorianaCourt of Appeals for the Fifth Circuit · 1985
- Chevron U.S.A., Inc., Cross-Appellant v. Traillour Oil Company v. Earl Harvey Archer, Iii, Cross-AppelleesCourt of Appeals for the Fifth Circuit · 1993
- Alaska Textile Co., Inc. v. Chase Manhattan Bank, N.A.Court of Appeals for the Second Circuit · 1992
- Ground Air Transfer, Inc. D/B/A Charter One v. Westates Airlines, Inc. And Jesse YohananCourt of Appeals for the First Circuit · 1990
- First State Bank v. Diamond Plastics Corp.Supreme Court of Oklahoma · 1995
63 more not listed; retrieve them via the Exa API.