¶ We first note that "law of the case" is not established by the denial of summary judgment in a previous lawsuit, since factual issues may well have precluded an assessment of the applicable law. In any event, we are not bound by "law of the case" precepts and we exercise our discretion to reach the merits of this matter. ¶ Respondent Bank Leumi issued a letter of credit (an irrevocable document by its terms) upon application of respondent Gotham. Petitioner was...
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