Marino Industries Corp., Cross-Appellee v. The Chase Manhattan Bank, N.A., Cross-Appellant

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• stating that under New York law “[t]he corollary to the rule of strict compliance is that the requirements in letters of credit must be explicit, [ ... ] and that all ambiguities are construed against the bank”
• all ambiguities construed against the issuing bank in an action for wrongful dishonor by the beneficiary
• “Since the beneficiary must comply strictly with the requirements of the letter, it must know precisely and unequivocally what those requirements are.”
• “The corollary to the rule of strict compliance is that the requirements in letters of credit must be explicit.”
• requirements for payment must be specified “precisely and clearly”

Source: CourtListener parenthetical corpus (CC0).