Petra International Banking Corporation, Plaintiff, v. Dameron International, Incorporated; Richard E. Pitts;marga K. Pitts; James Pitts; Nancy Pitts,defendants-appellants,first American Bank of Virginia, Defendant-appellee.petra International Banking Corporation, Plaintiff-appellee, v. First American Bank of Virginia, Defendant-appellant,anddameron International, Incorporated; Richard E. Pitts;marga K. Pitts; James Pitts; Nancy Pitts, Defendants, 953 F.2d 1383 (4th Cir. 1992)

Dameron International, Incorporated, purchased T-shirts from their manufacturer in Amman, Jordan, using irrevocable letters of credit.

When delivery of the T-shirts revealed poor quality, Dameron refused to pay the First American Bank of Virginia to cover the letters of credit, relying on the bank's failure to protest documentary inconsistencies before paying on the letters. First American in turn refused to pay Petra International Banking Corporation, the confirming bank which honored drafts drawn on the letters of credit. On cross-motions for summary judgment filed by the various parties seeking to cover the amounts involved in the letters of credit plus interest, the district court entered judgment in favor of Petra International against First American because of its wrongful dishonor, and in favor of First American against Dameron and its principals for reimbursement. The principals had guaranteed Dameron's obligations. The claims of Dameron and its principals against First American were dismissed.

We have carefully considered the briefs and arguments of the parties and find no reversible error. Accordingly, we affirm for the reasons given by the district court in its thorough and well-reasoned opinion. Petra Int'l Banking Corp. v. First American Bank of Virginia, 758 F. Supp. 1120 (E.D. Va. 1991).

AFFIRMED.