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FLAGSHIP CRUISES, LTD. v. NEW ENGLAND MERCHANTS NATIONAL BANK OF BOSTON

No. 77-1429.

569 F.2d 699 (1978)

FLAGSHIP CRUISES, LTD., Plaintiff, Appellee, v. NEW ENGLAND MERCHANTS NATIONAL BANK OF BOSTON, Defendant, Appellant, and Chemical Bank, Defendant, Appellee.

United States Court of Appeals, First Circuit.

Decided January 20, 1978.

Attorney(s) appearing for the Case

Thomas V. Urmy, Jr., Boston, Mass., with whom Dennis J. White and Warner & Stackpole, Boston, Mass., were on brief, for defendant, appellant.

Philip R. White, Boston, Mass., with whom Louis F. Eaton, Jr., Howard Whitehead and Hutchins & Wheeler, Boston, Mass., were on brief, for plaintiff, appellee.

Before COFFIN, Chief Judge, and CAMPBELL and BOWNES, Circuit Judges.

COFFIN, Chief Judge.

This is an appeal from an adverse summary judgment by the issuer of a letter of credit which refused to make payment to the beneficiary. The case was considered by the district court on the basis of affidavits, depositions, and responses to interrogatories. Summary judgment having been granted for the plaintiff, we report the evidence in the stance most favorable to the losing party.

In July, 1972, at the request of Citizens Trust Company...

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