DOUCET, Judge.
This matter concerns a letter of credit transaction. The facts are not in question, having been stipulated to by the parties.
In the latter part of 1981, the plaintiff-appellee, Robert K. Irwin, invested in LeCheval II, a Louisiana Partnership in Commendam. As consideration for an interest in the partnership, Irwin executed a $45,000 promissory note in favor of LeCheval II, issued a check for $3,200 to LeCheval II, and secured a $10,000 letter...
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