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GOLDEN WEST REFINING CO. v. SUNTRUST BANK

No. 06-56006.

538 F.3d 1233 (2008)

GOLDEN WEST REFINING COMPANY, a California corporation, Plaintiff-Appellee, v. SUNTRUST BANK, a Georgia State chartered bank, Defendant-Appellant.

United States Court of Appeals, Ninth Circuit.

Filed August 18, 2008.

Attorney(s) appearing for the Case

Susan A. Mitchell, Frederick A. Clark, McKenna Long & Aldridge LLP, Los Angeles, CA, for the defendant-appellant.

Dennis B. Arnold, Marjorie E. Lewis, and Sarah F. Powers, Gibson, Dunn & Crutcher LLP, Los Angeles, CA, for the plaintiff-appellee.

Before: J. CLIFFORD WALLACE, RONALD M. GOULD, and SANDRA S. IKUTA, Circuit Judges.

GOULD, Circuit Judge:

SunTrust Bank ("SunTrust") appeals the district court's judgment in favor of Golden West Refining Company ("Golden West") in an action brought by Golden West to draw on a letter of credit issued to it by SunTrust's predecessor Crestar Bank ("Crestar"). SunTrust argues that the district court erred (1) by holding that the letter of credit was not "perpetual" under Uniform Commercial Code ("UCC") § 5-106(d) and thereby had not automatically...

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