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.