section 1951

Citation: section 1951
Parent Document: 250 LLC v. Photopoint Corp.(usa), 32 Cal. Rptr. 3d 296 (2005)
Jurisdiction: California (state)
Effective Date: 2005-07-28
Original Source: https://www.courtlistener.com/opinion/2281319/250-llc-v-photopoint-corpusa/ ↗

Other Sections in This Document (165)

250 LLC v. Photopoint Corp.(usa), 32 Cal. Rptr. 3d 296 (2005)
250 LLC v. Photopoint Corp.(usa), 32 Cal. Rptr. 3d 296 (2005)
250 LLC v. Photopoint Corp.(usa), 32 Cal. Rptr. 3d 296 (2005)
250 LLC v. Photopoint Corp.(usa), 32 Cal. Rptr. 3d 296 (2005)
250 LLC v. Photopoint Corp.(usa), 32 Cal. Rptr. 3d 296 (2005)
250 LLC v. Photopoint Corp.(usa), 32 Cal. Rptr. 3d 296 (2005)
250 LLC v. Photopoint Corp.(usa), 32 Cal. Rptr. 3d 296 (2005)
250 LLC v. Photopoint Corp.(usa), 32 Cal. Rptr. 3d 296 (2005)
250 LLC v. Photopoint Corp.(usa), 32 Cal. Rptr. 3d 296 (2005)
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“While the fee was paid through the vehicle of a standby letter of credit, and may thus be considered ‘proceeds’ of the letter of credit, it is significant that [the bank] has already received those funds. It is one thing to attempt to prevent the distribution of the proceeds of a letter of credit, an attempt the doctrine of independence is designed to prevent; but it is quite another to bring an action on the underlying contract that created the letter of credit.