Chapter 075

      75.1020

NOTES OF DECISIONS

      Letter of credit does not necessarily create secondary liability and, thus, is not necessarily surety. CRM Collateral II, Inc. v. TriCounty Metropolitan Transportation, 669 F3d 963 (9th Cir. 2012)

      75.1030

NOTES OF DECISIONS

      Disagreement between applicant for letter of credit and beneficiary does not prevent issuer from honoring proper draw in absence of fraud. CRM Collateral II, Inc. v. TriCounty Metropolitan Transportation, 669 F3d 963 (9th Cir. 2012)

ATTY. GEN. OPINIONS: Construing “letters of credit,” (1972) Vol 36, p 125

      75.1140

NOTES OF DECISIONS

      Where district court failed to find evidence of fraud or forgery or any other specific statutory exceptions, this section did not authorize district court to enjoin bank from honoring draft. Andy Marine, Inc. v. Zidell, Inc., 812 F2d 534 (1987)