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CONOCO, INC. v. NORWEST BANK MASON CITY, N.A.

No. 84-2565.

767 F.2d 470 (1985)

CONOCO, INC., Appellee, v. NORWEST BANK MASON CITY, N.A., formerly known as The First National Bank of Mason City, Iowa, Appellant.

United States Court of Appeals, Eighth Circuit.

Decided July 11, 1985.

Attorney(s) appearing for the Case

John L. Duffy, Mason City, Iowa, for appellant.

Jean A. McNeil, Des Moines, Iowa, for appellee.

Before McMILLIAN and FAGG, Circuit Judges, and WOODS, District Judge.

HENRY WOODS, District Judge.

This case involves the single issue of whether a letter of credit is revocable or irrevocable. The facts are simple. On July 6, 1981, the First National Bank of Mason City, now known as Norwest Bank Mason City, N.A., (Norwest) issued a letter of credit to Carl Hankenson, d/b/a Hank Oil Co., Inc., Clear Lake, Iowa. The letter of credit contained the following language:

This Commercial Letter of Credit shall remain in force for...

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