Supreme Merchandise Co. v. Chemical Bank

How courts have described this case

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

• “documents contained discrepancies from the letter of credit which' were waived by the account party”
• “A beneficiary’s interest in an executory negotiable letter of credit supporting an international sale of goods is not property of the beneficiary for purposes of attachment.”
• assignability of judgment debtor’s interest in a Letter of Credit is insufficient to establish that interest as attachable “property” under § 5201 when the judgment debtor has the power to render the interest valueless
• attachment order served after issuer has accepted drafts negotiated by foreign banks, but before the issuer had honored the drafts, are invalid because proceeds are now owned by negotiating bank rather tha'n by the original beneficiary

Source: CourtListener parenthetical corpus (CC0).