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UNITED CALIFORNIA BANK v. THC FINANCIAL CORP.

Nos. 75-1811, 75-2733.

557 F.2d 1351 (1977)

UNITED CALIFORNIA BANK, a California Corporation, Plaintiff-Appellee, v. THC FINANCIAL CORP., a Hawaii Corporation, Defendant-Appellant. UNITED CALIFORNIA BANK, a California Corporation, Plaintiff-Appellant, v. THC FINANCIAL CORP., a Hawaii Corporation, Defendant-Appellant.

United States Court of Appeals, Ninth Circuit.

July 25, 1977.

Attorney(s) appearing for the Case

Terence J. O'Toole, Carlsmith, Carlsmith, Wichman & Case, Honolulu, Hawaii, argued, for defendant-appellant.

John A. Hoskins, Anthony, Hoddick, Reinwald & O'Connor, Honolulu, Hawaii, argued, for plaintiff-appellee.

Before ELY, WRIGHT and KENNEDY, Circuit Judges.

EUGENE A. WRIGHT, Circuit Judge:

This breach of contract suit against The Hawaii Company Financial Corp. (THCF) by United California Bank (UCB) arises from THCF's refusal to purchase $500,000 of Climate Company's (Climate) promissory notes from UCB upon demand pursuant to a "put letter" of July 2, 1973.1

Under the terms of the put letter UCB was to extend a $500,000 line of credit to Climate for six months conditioned on THCF's...

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