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WICHITA EAGLE & B. PUB. CO., INC. v. PACIFIC NAT. BK., SAN FRAN.

Nos. 71-1573, 71-1849.

493 F.2d 1285 (1974)

The WICHITA EAGLE AND BEACON PUBLISHING COMPANY, INC., Plaintiff-Appellant, v. PACIFIC NATIONAL BANK OF SAN FRANCISCO, Defendant-Appellee. The WICHITA EAGLE AND BEACON PUBLISHING COMPANY, INC., Plaintiff-Appellee, v. PACIFIC NATIONAL BANK OF SAN FRANCISCO, Defendant-Appellant.

United States Court of Appeals, Ninth Circuit.

Rehearing Denied May 13, 1974.

Attorney(s) appearing for the Case

Gerrit H. Wormhoudt (argued), Fleeson, Gooing, Coulson & Kitch, Wichita, Kan., Bledsoe, Smith, Cathcart, Johnson & Rogers, San Francisco, Cal., for plaintiff-appellant.

Paul A. Renne (argued), Cooley, Crowley, Gaither, Godward, Castro & Huddleson, Jonas, Matthews, Pfotenhauer & King, San Francisco, Cal., Rockwell, Fulkerson & Clarke, San Rafael, Cal., for defendant-appellee.

Before CHAMBERS and BROWNING, Circuit Judges, and KING, District Judge.

OPINION

PER CURIAM:

The facts are summarized in the district court's opinion, 343 F.Supp. 332 (N.D.Cal.1971).

We do not agree with the district court that the instrument sued upon is a letter of credit, though it is so labeled. Rather, the instrument is an ordinary guaranty contract, obliging the defendant bank to pay whatever the lessee Circular Ramp Garages, Inc., owed on the underlying lease, up to the face...

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