New York Court of Appeals January 27, 1925 (Maurice O'Meara Co. v. National Park Bank)

lead-opinion

McLaughlin, J.

This action was brought to recover damages alleged to have been sustained by the plaintiff’s assignor, Ronconi

&

Millar, by defendant’s refusal to pay three sight drafts against a confirmed irrevocable letter of credit. The letter of credit was in the following form:

“

The National Park Bank “ of New York.

“ Our Credit No. 14956

October

28, 1920.

“ Messrs.