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  • Petra International Banking Corporation v. Dameron International, Incorporated Richard E. Pitts Marga K. Pitts James Pitts Nancy Pitts, First American Bank of Virginia, Petra International Banking Corporation v. First American Bank of Virginia, and Dameron International, Incorporated Richard E. Pitts Marga K. Pitts James Pitts Nancy Pitts, 953 F.2d 1383, 1st Cir. (1992)

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    1) Dameron International purchased t-shirts from a manufacturer in Jordan using letters of credit from First American Bank of Virginia. 2) When the t-shirts arrived in poor quality, Dameron refused to pay First American to cover the letters of credit, arguing the bank failed to protest inconsistencies before paying. 3) First American then refused to pay Petra International Banking Corporation, which had confirmed and honored drafts drawn on the letters of credit. 4) The district court entered judgment in favor of Petra against First American for wrongful dishonor, and in favor of First American against Dameron and its principals for reimbursement since the principals had guaranteed Dameron's obligations. The

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    Filed: 1992-02-05 Precedential Status: Non-Precedential Citations: 953 F.2d 1383 Docket: 91-2058

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    1) Dameron International purchased t-shirts from a manufacturer in Jordan using letters of credit from First American Bank of Virginia. 2) When the t-shirts arrived in poor quality, Dameron refused to pay First American to cover the letters of credit, arguing the bank failed to protest inconsistencies before paying. 3) First American then refused to pay Petra International Banking Corporation, which had confirmed and honored drafts drawn on the letters of credit. 4) The district court entered judgment in favor of Petra against First American for wrongful dishonor, and in favor of First American against Dameron and its principals for reimbursement since the principals had guaranteed Dameron's obligations. The

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    101 vizualizări2 pagini

    Petra International Banking Corporation v. Dameron International, Incorporated Richard E. Pitts Marga K. Pitts James Pitts Nancy Pitts, First American Bank of Virginia, Petra International Banking Corporation v. First American Bank of Virginia, and Dameron International, Incorporated Richard E. Pitts Marga K. Pitts James Pitts Nancy Pitts, 953 F.2d 1383, 1st Cir. (1992)

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    1) Dameron International purchased t-shirts from a manufacturer in Jordan using letters of credit from First American Bank of Virginia. 2) When the t-shirts arrived in poor quality, Dameron refused to pay First American to cover the letters of credit, arguing the bank failed to protest inconsistencies before paying. 3) First American then refused to pay Petra International Banking Corporation, which had confirmed and honored drafts drawn on the letters of credit. 4) The district court entered judgment in favor of Petra against First American for wrongful dishonor, and in favor of First American against Dameron and its principals for reimbursement since the principals had guaranteed Dameron's obligations. The

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    Public Domain
    Descărcați ca PDF sau citiți online pe Scribd
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    din 2

    953 F.

    2d 1383

    NOTICE: Fourth Circuit I.O.P. 36.6 states that citation of


    unpublished dispositions is disfavored except for establishing
    res judicata, estoppel, or the law of the case and requires
    service of copies of cited unpublished dispositions of the Fourth
    Circuit.
    PETRA INTERNATIONAL BANKING CORPORATION,
    Plaintiff,
    v.
    DAMERON INTERNATIONAL, INCORPORATED; Richard
    E. Pitts;
    Marga K. Pitts; James Pitts; Nancy Pitts,
    Defendants-Appellants,
    First American Bank of Virginia, Defendant-Appellee.
    PETRA INTERNATIONAL BANKING CORPORATION,
    Plaintiff-Appellee,
    v.
    FIRST AMERICAN BANK OF VIRGINIA, DefendantAppellant,
    and
    Dameron International, Incorporated; Richard E. Pitts;
    Marga K. Pitts; James Pitts; Nancy Pitts, Defendants.
    Nos. 91-2058, 91-2072.

    United States Court of Appeals, Fourth Circuit.


    Argued Oct. 29, 1991.
    Decided Feb. 5, 1992.

    Appeals from the United States District Court for the Eastern District of
    Virginia, at Alexandria. T.S. Ellis, III, District Judge. (CA-90-829-A)
    Argued: Brien Anthony Roche, Johnson & Roche, McLean, Va., for
    appellants; John Foster Anderson, McGuire, Woods, Battle & Boothe,
    Alexandria, Va., for appellee First American; Charles Douglas Welty,

    Arlington, Va., for appellee Petra International.


    On Brief: Jon E. Shields, Johnson & Roche, McLean, Va., for appellants.
    E.D.Va., 758 F.Supp. 1120.
    AFFIRMED.
    Before WILKINSON and NIEMEYER, Circuit Judges, and JOSEPH H.
    YOUNG, Senior United States District Judge for the District of Maryland,
    sitting by designation.
    OPINION
    PER CURIAM:

    Dameron International, Incorporated, purchased T-shirts from their


    manufacturer in Amman, Jordan, using irrevocable letters of credit.

    When delivery of the T-shirts revealed poor quality, Dameron refused to pay
    the First American Bank of Virginia to cover the letters of credit, relying on the
    bank's failure to protest documentary inconsistencies before paying on the
    letters. First American in turn refused to pay Petra International Banking
    Corporation, the confirming bank which honored drafts drawn on the letters of
    credit. On cross-motions for summary judgment filed by the various parties
    seeking to cover the amounts involved in the letters of credit plus interest, the
    district court entered judgment in favor of Petra International against First
    American because of its wrongful dishonor, and in favor of First American
    against Dameron and its principals for reimbursement. The principals had
    guaranteed Dameron's obligations. The claims of Dameron and its principals
    against First American were dismissed.

    We have carefully considered the briefs and arguments of the parties and find
    no reversible error. Accordingly, we affirm for the reasons given by the district
    court in its thorough and well-reasoned opinion. Petra Int'l Banking Corp. v.
    First American Bank of Virginia, 758 F.Supp. 1120 (E.D.Va.1991).

    AFFIRMED.

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