UNITED STATES

v.

WESLEY L. SISCHO

Citator

Cited By

• Barclays Bank D. C. O. v. Mercantile Nat'l Bank, 481 F.2d 1224 (5th Cir. 1973)
  …7, 134 S.E. 2d 777 (1964). . X Halls, The Uniform Commercial Code in Minnesota: Article 5 — Letters of Credit, 50 Minn.L.Rev. 453, 454 at n. 3 (1966). . See Border National Bank v. American National Bank, 282 F. 73, 77 (5th Cir., 1922), cert. den. 260 U.S. 701, 43 S.Ct. 96, 67 L.Ed. 471. As one commentator lias noted: “A letter of credit always serves as a guaranty. This does not mean that it is a guaranty. A letter of credit is an identical twin to a guaranty, but tlie fact that the two things look alik…
• Davies v. Lahann, 145 F.2d 656 (10th Cir. 1944)
  …d independent undertaking binding the guarantor apart from the primary obligation. Bank of Plant City v. Canal-Commercial Trust & Savings Bank, 5 Cir., 270 F. 477; Border National Bank v. American National Bank, 5 Cir., 282 F. 73, certiorari denied, 260 U.S. 701, 732, 43 S.Ct. 96, 67 L.Ed. 471. But the bond on which recovery was had in the court below was not an independent undertaking of that kind, separate and apart from the primary obligation. Instead, it was essentially a collateral engagement condition…
• Bank OF N.C., N.A. v. The Rock Island Bank, 570 F.2d 202 (7th Cir. 1978)
  …er does not. Barclays Bank D.C.O. v. Mercantile National Bank, 481 F. 2d 1224, 1236 (5th Cir. 1973), cert. denied, 414 U.S. 1139, 94 S.Ct. 888, 39 L.Ed.2d 96 (1974); Border National Bank v. American National Bank, 282 F. 73 (5th Cir.), cert. denied, 260 U.S. 701, 43 S.Ct. 96, 67 L.Ed. 471 (1922). Accordingly, where a letter of credit has required payment upon the presentation of specified documents, it has consistently been held to create a valid obligation rather than an ultra vires guaranty, even though…