Article

Illegality; Anticipatory Dishonor

Note:

Action by beneficiary against issuer for wrongful dishonor was properly dismissed because honor was prohibited by U.S. government asset freeze under 50 U.S.C.A. Section 1702(a)(3) then in effect. Claim for anticipatory dishonor once freeze is lifted was without merit in the absence of allegations or proof that assurances of future honor was demanded.

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