BANK OF NORTH CAROLINA, N.A. v. ROCK ISLAND BANK

No. 76-1984.

570 F.2d 202 (1978)

BANK OF NORTH CAROLINA, N.A., Plaintiff-Appellant, v. The ROCK ISLAND BANK, an Illinois Corporation, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided February 1, 1978.

Rehearing and Rehearing Denied March 10, 1978.


Attorney(s) appearing for the Case

Robert J. Noe, Moline, Ill., for plaintiff-appellant.

Robert A. Helman, Chicago, Ill., Peter H. Lousberg, Rock Island, Ill., for defendant-appellee.

Before SWYGERT and BAUER, Circuit Judges, and JAMESON, Senior District Judge.


Rehearing and Rehearing In Banc Denied March 10, 1978.

SWYGERT, Circuit Judge.2

In this appeal we must determine whether an instrument executed by an Illinois-chartered bank is a letter of credit. If it is, and if it is proper in Illinois for a state bank to issue such a letter, we must reverse the district court's dismissal of the complaint for failure to state a claim.

The facts...

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