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Rodzssen Supply vs. Far East Bank Ruling by jelynept is a document available to read on EtoBox.
This decision involves a dispute over payment for two hydraulic loaders. Rodzssen Supply Co. obtained a letter of credit from Far East Bank to finance the purchase of five loaders from Ekman. The letter of credit expired in October 1979. In March 1980, after the expiration date, Far East Bank paid Ekman $76,000 for the last two loaders. Rodzssen refused to reimburse Far East Bank. The Court of Appeals ruled that while the bank was not obligated to pay under the expired letter of credit, Rodzssen would be
- Author
- jelynept
- Language
- EN