Quimbee logo
DMCA.com Protection Status
From our private database of 18,800+ case briefs...

Wood v. State Bank

Appellate Division of the Supreme Court of New York
609 N.Y.S.2d 665 (App. Div. 1994)


Jacklyn Construction Corporation (Jacklyn) contracted to purchase property from its owners (plaintiffs). As part of the transaction, Jacklyn requested that the State Bank of Long Island (State Bank) (defendant) issue an irrevocable standby letter of credit in favor of Thomas Wood, the plaintiffs’ attorney, to be paid in the event of Jacklyn’s default. As a prerequisite to payment, the letter of credit required the presentment of a draft referencing credit number “1147,” as well as a certification by Wood stating that Jacklyn had willfully failed to close title on the property under the sales contract. Thereafter, Wood presented a draft to State Bank that did not include the credit number. The draft was accompanied by an affidavit from Wood that referenced the credit number and further demanded payment from State Bank pursuant to the letter of credit. However, Wood’s draft did not contain any certification indicating Jacklyn’s willful failure to close title. State Bank refused to make payment on the letter. The plaintiffs filed suit against State Bank for payment. Both parties moved for summary judgment. The trial court granted the plaintiffs’ motion, and State Bank appealed.

Rule of Law


Holding and Reasoning (Thompson, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 499,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.

  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.

Here's why 499,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 18,800 briefs, keyed to 985 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.

Questions & Answers

Have a question about this case?

Sign up for a free 7-day trial and ask it

Sign up for a FREE 7-day trial