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HENDRIES, INC. v. AMER. EXPRESS CO.

35 A.D.2d 412 (1970)

Hendries, Inc., Respondent, v. American Express Company et al., Appellants, et al., Defendants Peter Pan Ice Cream Co., Inc., Respondent, v. American Express Company et al., Appellants, et al., Defendants

Appellate Division of the Supreme Court of the State of New York, First Department.

December 17, 1970.

Attorney(s) appearing for the Case

Francis O. Mayer of counsel (Albert P. Loening, Jr., with him on the brief; Turk, Marsh, Kelly & Hoare, attorneys), for Bancofin S. A., appellant; Laurence M. Shanahan with him on the brief; Carter, Ledyard & Milburn, attorneys), for American Express Company, appellant.

Edward Nathan of counsel (Matthew C. Anenberg with him on the brief), for respondents.

MARKEWICH and McNALLY, JJ., concur with MACKEN, J.; McGIVERN, J. P., dissents in part in an opinion.

MACKEN, J.

December 19, 1967 appellant Banque de Commerce et de Financement Bancofin S. A. (Bancofin), a Swiss bank, issued an irrevocable letter of credit in favor of Mercantile Commodities Corporation (Mercantile) at the request and for the account of appellant B.N.S. International Sales Corporation (B.N.S.) for the ostensible purpose of financing a purchase by B.N.S. from Mercantile of some 15,000 cartons...

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