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DIXON, IRMAOS & CIA v. CHASE NAT. BANK OF CITY OF N. Y.

No. 374.

144 F.2d 759 (1944)

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

Circuit Court of Appeals, Second Circuit.

September 12, 1944.

Attorney(s) appearing for the Case

Bigham, Englar, Jones & Houston, of New York City (Oscar R. Houston and J. Joseph Noble, both of New York City, of counsel), for appellant.

Mudge, Stern, Williams & Tucker, of New York City (George L. Trumbull and Randolph H. Guthrie, both of New York City, of counsel), for appellee.

Before L. HAND, SWAN, and FRANK, Circuit Judges.

SWAN, Circuit Judge.

This appeal raises interesting and important questions as to letters of credit covering C. I. F. shipments abroad. The plaintiff, an exporter of cotton in Sao Paulo, Brazil, contracted to sell cotton to a purchaser in Belgium. A Belgian bank requested the Chase Bank to issue in favor of the plaintiff two irrevocable letters of credit for $7,000 and $3,500 respectively to finance such sales. Chase Bank did so and mailed them to Sao Paulo, where...

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