New Braunfels National Bank v. Odiorne
Texas Civil Court of Appeals
780 S.W.2d 313 (1989)
- Written by Sean Carroll, JD
Facts
Southern International Insurance Company, Limited (Southern) (defendant) asked New Braunfels National Bank (the bank) (plaintiff) for a letter of credit in the amount of $250,000, payable to P.W. Bates (defendant). The letter of credit was numbered 86-122-S. The condition for Bates requesting a draw on the letter was that any draw be marked, “Drawn under New Braunfels Natioal Bank Irrevocable Letter of Credit Number 86-122-S.” On the letter’s expiration date, Bates presented a drawing letter, along with the original letter of credit, to the bank. The drawing letter’s legend referred to “Irrevocable Letter of Credit No. 86-122-5” rather than 86-122-S. Because of this difference, the bank dishonored the demand. The bank then filed for a declaratory judgment that the dishonor was proper. Both parties moved for summary judgment. The trial court granted the bank’s motion and denied Bates’s motion. Bates appealed.
Rule of Law
Issue
Holding and Reasoning (Jones, J.)
What to do next…
Here's why 832,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 46,400 briefs, keyed to 994 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.
