(DOWNLOAD) "Ross Bicycles v. Citibank" by Supreme Court of New York # Book PDF Kindle ePub Free
eBook details
- Title: Ross Bicycles v. Citibank
- Author : Supreme Court of New York
- Release Date : January 06, 1994
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 64 KB
Description
Order, Supreme Court, New York County (Beverly Cohen, J.), entered October 29, 1992, which denied defendant Citibank's motion
for summary judgment, granted plaintiff Ross Bicycles partial summary judgment in the amount of $189,056., plus interest,
and allowed Ross Bicycles to pursue a claim for anticipatory repudiation, and judgment of said court and justice entered December
4, 1992 upon said order, unanimously affirmed, with costs. It is uncontested that Citibank issued an irrevocable letter of credit to Wedtech Corporation with Ross Bicycles as the beneficiary.
Upon the presentation of written drafts showing that Ross had shipped the mail containers as provided in its contract with
Wedtech, Ross was entitled to be paid by Citibank pursuant to the letter of credit (First Commercial Bank v. Gotham, 64 N.Y.2d
287, 486 N.Y.S.2d 715, 475 N.E.2d 1255; United Bank v. Cambridge Sporting Goods Corp., 41 N.Y.2d 254, 392 N.Y.S.2d 265, 360
N.E.2d 943).