WELLS, Judge.
The dispositive question in this lawsuit is whether the letter of credit issued by defendant Bank dated 13 November 1978 in favor of defendants S, R, and V is a "clean" credit, requiring no documentation for honor and payment; or, whether it is a "documentary" credit, requiring documentation for honor and payment.
A brief, general discussion of the nature and use of letters of credit may help clarify our task.
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
