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IMPTEX INTERNATIONAL CORP. v. HSBC BANK USA, N.A.

52 A.D.3d 215 (2008)

859 N.Y.S.2d 147

IMPTEX INTERNATIONAL CORP., Appellant, v. HSBC BANK USA, N.A., Respondent.

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

Decided June 3, 2008.

The record establishes that defendant appropriately honored the first two presentments on the subject letter of credit since the documents presented by the beneficiary strictly complied with the terms of the letter of credit (see United Commodities-Greece v Fidelity Intl. Bank, 64 N.Y.2d 449, 455 [1985]). Although, in addition to stating that the merchandise was "on rolls," as required by the letter of credit, the presented documents...

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