Ordered that the order is reversed insofar as appealed from, on the law, and the defendants' cross motion for summary judgment dismissing the complaint is granted; and it is further,
Ordered that the order is affirmed insofar as cross-appealed from; and it is further,
Ordered that one bill of costs is awarded to the defendants.
On July 13, 1995, Republic National Bank (hereinafter Republic) issued an irrevocable standby letter of credit (hereinafter...
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