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DIXON IRMAOS & CIA. LTDA. v. CHASE NAT. BANK

53 F.Supp. 933 (1943)

DIXON IRMAOS & CIA. LTDA. v. CHASE NAT. BANK OF CITY OF NEW YORK

District Court, S. D. New York.

May 31, 1943.

Attorney(s) appearing for the Case

Bigham, Englar, Jones & Houston, of New York City (J. Joseph Noble, of New York City, of counsel), for plaintiff.

Mudge, Stern, Williams & Tucker, of New York City (Randolph H. Guthrie, of New York City, of counsel), for defendant.

BURKE, District Judge.

Pursuant to instructions from its correspondent, Banque de Bruxelles, Brussels, Belgium, The Chase National Bank on April 8, 1940, issued two irrevocable letters of credit to Dixon Irmaos, a Brazilian cotton exporting firm. Under the credits the Chase Bank agreed to honor drafts drawn by Dixon Irmaos at 90 days sight for sums not exceeding the amounts of the credits, if presented at The Chase Bank in New York on or before May 15, 1940. The credits...

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