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PAN-AMERICAN BANK & TRUST CO. v. NATIONAL CITY BANK

No. 119.

6 F.2d 762 (1925)

PAN-AMERICAN BANK & TRUST CO. et al. v. NATIONAL CITY BANK OF NEW YORK.

Circuit Court of Appeals, Second Circuit.

February 9, 1925.

Attorney(s) appearing for the Case

Rounds, Hatch, Dillingham & Debevoise, of New York City, Eugene J. McGivney, of New Orleans, La., and Francis E. Neagle, of New York City (Ralph S. Rounds, Eugene Congleton, and Raymond E. Cook, all of New York City, on the brief), for plaintiffs in error.

Shearman & Sterling and Carl A. Mead, all of New York City (John A. Garver and Justus Sheffield, both of New York City, on the brief), for defendant in error.

Before HOUGH, MANTON, and HAND, Circuit Judges.

HOUGH, Circuit Judge (after stating the facts as above).

At the very threshold of this matter the parties disagree as to its nature. Pan-American describes it as an action "upon a commercial letter of credit," while the other side insists that it is brought on an agreement by Pan-American to reimburse City Bank for whatever it paid out on such promise of reimbursement. The difference is more than a technicality, for the nature of any legal procedure is determined...

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