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TITANIUM METALS CORP. OF AMER. v. SPACE METALS, INC.

No. 13474.

529 P.2d 431 (1974)

TITANIUM METALS CORPORATION OF AMERICA, a Delaware Corporation, Plaintiff and Respondent, v. SPACE METALS, INC., a corporation, and Valley Bank & Trust Company, a Utah Corporation, Defendants and Appellants. VALLEY BANK & TRUST COMPANY, a Utah Corporation, Cross-Plaintiff and Appellant, v. SPACE METALS INC., a corporation, Cross-Defendant.

Supreme Court of Utah.

December 13, 1974.

Attorney(s) appearing for the Case

Irving H. Biele of Biele, Haslam & Hatch, Salt Lake City, for appellant, Valley Bank & Trust Co.

Alvin I. Smith of Arnovitz, Smith & Nielson, Salt Lake City, for respondent, Titanium Metals Corp.

HENRIOD, Justice:

Appeal from a judgment in a case tried to the court, involving letters of credit, in which defendant Bank was held accountable. Affirmed with no costs awarded.

This case involves three differently worded, but somewhat similar letters of credit written by the Bank and directed to Titanium at the request of Space Metals, Inc. The dates and pertinent language respectively were:

I. May 28, 1968: "We have approved a $15,000 line...

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