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PETRA INTERN. BANKING CORP. v. FIRST AMERICAN BANK

Civ. A. No. 90-829-A.

758 F.Supp. 1120 (1991)

PETRA INTERNATIONAL BANKING CORP., Plaintiff, v. FIRST AMERICAN BANK OF VIRGINIA, et al., Defendants.

United States District Court, E.D. Virginia, Alexandria Division.

March 1, 1991.

Attorney(s) appearing for the Case

Charles Douglas Welty, Arlington, Va., for Petra Intern. Banking Corp.

John Anderson, Alexandria, Va., for First American Bank of Virginia.

Brien A. Roche, McLean, Va., for Dameron Intern., Inc., Richard E. Pitts, Marga K. Pitts, James Pitts and Nancy Pitts.

MEMORANDUM OPINION

ELLIS, District Judge.

This dispute grows out of the use of two documentary letters of credit to finance the purchase of T-shirts by a Virginia corporation from the manufacturer in Amman, Jordan. In essence, following the delivery of poor quality T-shirts, the purchaser refused to pay the issuing bank, and the issuing bank then refused to pay the confirming bank, which had honored drafts drawn under the letters of credit. The purchaser...

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