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FIDELITY NAT. BANK OF SOUTH MIAMI v. DADE CTY.

No. 78-1966.

371 So.2d 545 (1979)

FIDELITY NATIONAL BANK OF SOUTH MIAMI, an Association Organized and Existing under the Laws of the United States, Appellant, v. DADE COUNTY, a Political Subdivision of the State of Florida, Appellee.

District Court of Appeal of Florida, Third District.

May 29, 1979.

Attorney(s) appearing for the Case

Paul & Thomson and Sanford L. Bohrer, Miami, for appellant.

Stuart L. Simon, County Atty., and R.A. Cuevas, Jr., Asst. County Atty., for appellee.

Bruce Culpepper, Tallahassee, for Florida Association of Registered Bank Holding Companies, Inc., as amicus curiae.

Before HENDRY, HUBBART and SCHWARTZ, JJ.

SCHWARTZ, Judge.

Compliance with the terms of a letter of credit is not like pitching horseshoes. No points are awarded for being close. Because the judgment below contravenes this established principle of commercial law, it is reversed.

The controlling facts are entirely undisputed. In September 1973, at the instance of one of its customers, C.S.F. Condominiums Ltd., the appellant, Fidelity National Bank of South...

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