United States Ninth Circuit

In proceedings following default on a standby letter of credit, the district court's disposition of the case on cross-motions for summary judgment is reversed and the case remanded, where: 1) the district court incorrectly concluded that the applicant for the letter of credit was a surety and erroneously permitted it to assert the defense of discharge; and 2) the applicant was not entitled to an award of damages because the beneficiary's draw on the letter of credit did not violate the statutory warranty to the applicant that the drawing did not violate any agreement between the applicant and the beneficiary.

Appellate Information

• Decided 01/20/2012
• Published 01/20/2012

Judges

• Richard C. Tallman

Court

• United States Ninth Circuit

Counsel

• For Appellant:
  
• Joel A. Mullin, Timothy S. DeJong