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MAGAR, INC. v. NAT'L WESTMINSTER BANK USA

189 A.D.2d 580 (1993)

Magar, Inc., Appellant, v. National Westminster Bank USA et al., Respondents

Appellate Division of the Supreme Court of the State of New York, First Department.

January 7, 1993

Upon this record plaintiff has failed adequately to support the allegation of fraud in the transaction underlying the issuance of the letter of credit. The record does not demonstrate that defendant Burki fraudulently entered into the agreement to purchase the interest in the 1989 French vineyard harvest. Further, there is a question as to whether plaintiff was in default of its obligation to provide financing for the transaction...

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