Camp v. Corn Exchange National Bank

Opinion by

Mr. Justice Kephart,

Appellee issued a letter of credit for $397,000 subject to a sixty-day sight-draft with full sets of shipping documents attached, drawn under it by the Swedish East India Company of Java. The letter was issued May 8th, and was to cover the price of 100 tons of sugar purchased in Java. On September 23,1920, a draft, with the necessary documents, for the above sum, less $1.65, was informally presented to appellee by the Japanese Bank of Taiwan, the owner. The documents consisted of a bill of lading, consular invoice, commercial invoice, declaration by shipper of…