Abe Schrader Corp. v. Legend Apparel Manufacturing Co.

Appellate Division of the Supreme Court of New York

Abe Schrader Corp. v. Legend Apparel Manufacturing Co.

181 A.D.2d 542, 581 N.Y.S.2d 319, 1992 N.Y. App. Div. LEXIS 3767

CourtAppellate Division of the Supreme Court of the State of New York

DecidedMarch 19, 1992

StatusPublished

This text of 181 A.D.2d 542 (Abe Schrader Corp. v. Legend Apparel Manufacturing Co.) is published on Counsel Stack Legal Research, covering Appellate Division of the Supreme Court of the State of New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Abe Schrader Corp. v. Legend Apparel Manufacturing Co., 181 A.D.2d 542, 581 N.Y.S.2d 319, 1992 N.Y. App. Div. LEXIS 3767 (N.Y. Ct. App. 1992).

Pincite

Opinion

—Order, Supreme Court, New York County (Myriam Altman, J.), entered October 1, 1991, which, inter alia, granted defendant-respondent’s summary judgment motion dismissing plaintiff-appellant’s complaint, unanimously affirmed, with costs.

The court correctly determined that National Westminster Bank was not liable to State Bank of India (SBI) for advances SBI made to Legend pursuant to a "red clause” in a letter of credit since SBI failed to offer evidentiary proof that it had [543]*543sought reimbursement in accordance with the terms of the letter of credit. Furthermore, since there was no basis to conclude that SBI had made a presentation of documents for payment, National Westminster Bank was not required under Uniform Customs and Practice for Commercial Documentary Credits article 16 to give SBI notice of its refusal of the documents or to return the documents. Concur — Murphy, P. J., Carro, Rosenberger, Kupferman and Ross, JJ.

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—Order, Supreme Court, New York County (Myriam Altman, J.), entered October 1, 1991, which, inter alia, granted defendant-respondent’s summary judgment motion dismissing plaintiff-appellant’s complaint, unanimously affirmed, with costs.

The court correctly determined that National Westminster Bank was not liable to State Bank of India (SBI) for advances SBI made to Legend pursuant to a "red clause” in a letter of credit since SBI failed to offer evidentiary proof that it had [543]*543sought reimbursement in accordance with the terms of the letter of credit. Furthermore, since there was no basis to conclude that SBI had made a presentation of documents for payment, National Westminster Bank was not required under Uniform Customs and Practice for Commercial Documentary Credits article 16 to give SBI notice of its refusal of the documents or to return the documents. Concur — Murphy, P. J., Carro, Rosenberger, Kupferman and Ross, JJ.

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Bluebook (online)

181 A.D.2d 542, 581 N.Y.S.2d 319, 1992 N.Y. App. Div. LEXIS 3767, Counsel Stack Legal Research, https://law.counselstack.com/opinion/abe-schrader-corp-v-legend-apparel-manufacturing-co-nyappdiv-1992.