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  5. 786 S.W.2d 628 (1990)
 

UNION EXPORT CO. v. N.I.B. INTERMARKET

786 S.W.2d 628 (1990)

UNION EXPORT COMPANY, Plaintiff-Appellee, v. N.I.B. INTERMARKET, A.B., Defendant, and First American National Bank, Defendant-Appellant. FIRST AMERICAN NATIONAL BANK, Counter-plaintiff-Appellant, v. UNION EXPORT COMPANY, Counter-defendant-Appellee.

Supreme Court of Tennessee, at Nashville.

March 5, 1990.

Attorney(s) appearing for the Case

Frank H. Reeves, Nashville, for appellant.

John C. Speer, Michael C. Patton, Heiskell, Donelson, Bearman, Adams, Williams & Kirsch, Nashville, for appellee.

DROWOTA, Chief Justice.

This case involves an international letter of credit. Union Export Company (Union) had First American National Bank (First American) issue an irrevocable letter of credit in the amount of $345,000 to N.I.B. Intermarket, A.B. (N.I.B.), a Swedish exporter, to insure payment for calcium chloride that Union had purchased from N.I.B. In this appeal, First American argues that the Court of Appeals erred in affirming the Chancellor's issuance of a...

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