[Download] "Evra Corp. v. Swiss Bank Corp." by Seventh Circuit United States Court of Appeals * eBook PDF Kindle ePub Free

July 24, 2021

eBook details

Title: Evra Corp. v. Swiss Bank Corp.
Author : Seventh Circuit United States Court of Appeals
Release Date : January 19, 1982
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 68 KB

Description

The question-one of first impression-in this diversity case is the extent of a banks liability for failure to make a transfer of funds when requested by wire to do so. The essential facts are undisputed. In 1972 Hyman-Michaels Company, a large Chicago dealer in scrap metal, entered into a two-year contract to supply steel scrap to a Brazilian corporation. Hyman-Michaels chartered a ship, the Pandora, to carry the scrap to Brazil. The charter was for one year, with an option to extend the charter for a second year; specified a fixed daily rate of pay for the hire of the ship during both the initial and the option period, payable semi-monthly "in advance"; and provided that if payment was not made on time the Pandora "s owner could cancel the charter. Payment was to be made by deposit to the owners account in the Banque de Paris et des Pays-Bas (Suisse) in Geneva, Switzerland.