It is well established that New York law "requires strict compliance with the terms of a letter of credit [citations omitted] rather than the more relaxed standard of substantial compliance" (United Commodities-Greece v Fidelity Intl. Bank,
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ZALMEN REISS AND ASSOCIATES INC. v. EUROPEAN AMERICAN BANK
269 A.D.2d 166 (2000)
703 N.Y.S.2d 31
ZALMEN REISS AND ASSOCIATES INC., Respondent, v. EUROPEAN AMERICAN BANK, Respondent, and SUMITOMO BANK LIMITED, Intervenor-Appellant, et al., Defendants.
Appellate Division of the Supreme Court of the State of New York, First Department.https://leagle.com/images/logo.png
Decided February 3, 2000.
Decided February 3, 2000.
Appellate Division of the Supreme Court of the State of New York, First Department.
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