Key Appliance, Inc. v. First National City Bank
New York Court of Appeals
Key Appliance, Inc. v. First National City Bank, 37 N.Y.2d 826 (N.Y. 1975)
339 N.E.2d 888; 377 N.Y.S.2d 482; 1975 N.Y. LEXIS 2212
Key Appliance, Inc. v. First National City Bank
Opinion of the Court
Memorandum. The order of the Appellate Division should be affirmed for the reasons stated in the memorandum decision of that court. There must be strict compliance with the documentary - requirements of a letter of credit since the issuing bank at once owes independent obligations to its
Chief Judge Breitel and Judges Jasen, Gabrielli, Jones, Wachtler, Fuchsberg and Cooke concur.
Order affirmed, with costs, in a memorandum.
Reference
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