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EXXON CO. v. BANQUE DE PARIS ET DES PAYS-BAS

No. 87-2007.

889 F.2d 674 (1989)

EXXON COMPANY, U.S.A., a DIVISION OF EXXON CORPORATION, Plaintiff-Appellee, Cross-Appellant, v. BANQUE DE PARIS ET DES PAYS-BAS, Defendant-Appellant, Cross-Appellee.

United States Court of Appeals, Fifth Circuit.

Order Denying Rehearing February 8, 1990.

Attorney(s) appearing for the Case

Hayden Burns, Constance Barnes, Butler & Binnion, Houston, Tex., for defendant-appellant, cross-appellee.

Michael F. Crotty, Associate Gen. Counsel, American Bankers Ass'n, Washington, D.C., Stanley Godofsky, Donald F. Luke, Kenneth Lehr Miller, Rogers & Wells, New York City, for amicus-American Bankers Ass'n.

Rufus Wallingford, Tom A. Cunningham, C. Mark Baker, Fulbright & Jaworski, Houston, Tex., Keith A. Jones, Fulbright & Jaworski, Washington, D.C., for plaintiff-appellee, cross-appellant.

Before RUBIN, GARZA, and JOLLY, Circuit Judges.

ON REMAND FROM THE SUPREME COURT OF THE UNITED STATES

ALVIN B. RUBIN, Circuit Judge:

In a diversity action against a bank for refusing to honor a standby letter of credit, we held that the obligation of the issuing bank had terminated even though it might not have been possible for the holder of the letter to present the documents required for payment before the expiry date stated in the letter.

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