Court of Appeals of North Carolina June 2, 1981, 8018SC901 (Sunset Investments, Ltd. v. Sargent)

WELLS, Judge.

The dispositive question in this law suit is whether the letter of credit issued by defendant Bank dated 13 November 1978 in favor of defendants S, R, and V is a “clean” credit, requiring no documentation for honor and payment; or, whether it is a “documentary” credit, requiring documentation for honor and payment.