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Liability Of Banks Issuing Letter Of Credit When Good Fail To Comply With Documentary Description, Muriel A. Mawer

Washington Law Review

The decision of the United States Circuit Court of Appeals (Ninth Circuit) in the case of Contmnental Natwnal Bank v. National City Bank has reopened the question which received much attention in the legal and commercial periodicals following the writing of the opinions in O'Meara v. National Park Bank and Laudisi v. American Exchange Bank as to the liability of the issuing bank when the goods do not measure up to the description contained in the documents accompanying the draft drawn under the letter of credit. It seems that the problem can be best understood by examining the various situations …