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Showing 1–1 of 1 articles for “letter of guaranty”

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Oct 7, 2024 letter of guaranty contract interpretation real estate mortgage supreme court banking law

When a Bank's Letter of Guaranty Does Not Bind It to Pay: Planters Development Bank v. Fuerte

The Supreme Court ruled that a letter of guaranty must be read as a whole, and a bank may withhold payment when the collateral title is not clean.