Legal Opinion
Bank of North Carolina, N. A. v. The Rock Island Bank, an Illinois Corporation
Court of Appeals for the Seventh Circuit
Decided September 22, 1980No. 79-1787PublishedCited by 18 opinions
1Opinion of the Court
CUDAHY, Circuit Judge.
The Bank of North Carolina, N. A. (“NC”), brought this action to recover under a letter of credit issued by the Rock Island Bank (“RI”) to its customer, Lorraine Realty Corporation (“Lorraine”) in 1969. 1 The letter of credit contemplated that Lorraine would give a third party its promissory note which would mature on June 5, 1971. In its letter of credit RI promised to pay any amount which remained due under Lorraine’s note on June 5, 1971, to any holder in due course of the note. NC acquired the note and presented it to RI, claiming that it was a holder in due course…
2Cases cited17 opinions
- Venizelos, S.A. v. Chase Manhattan BankCourt of Appeals for the Second Circuit · 1970
- Bank of North Carolina, N.A. v. The Rock Island Bank, an Illinois CorporationCourt of Appeals for the Seventh Circuit · 1978
- Herbert Shaffer Assoc., Inc. v. First Bank of Oak ParkAppellate Court of Illinois · 1975
- Ward v. . SuggSupreme Court of North Carolina · 1893
- Central Republic Trust Co. v. EvansIllinois Supreme Court · 1941
12 more not listed; retrieve them via the Exa API.
3Cited by18 opinions
- JPMorgan Chase Bank, N.A. v. Asia Pulp & Paper Co.Court of Appeals for the Seventh Circuit · 2013
- Illinois Conference of Teamsters & Employers Welfare Fund v. MrowickiCourt of Appeals for the Seventh Circuit · 1994
- Stringer Construction Co. v. American InsuranceAppellate Court of Illinois · 1981
- The Rock Island Bank v. The Aetna Casualty and Surety Company, Third-Party Plaintiff v. William J. Kearney, Third-PartyCourt of Appeals for the Third Circuit · 1982
- Mason & Dixon Lines, Inc. v. GloverCourt of Appeals for the Seventh Circuit · 1992
13 more not listed; retrieve them via the Exa API.