The Evansville National Bank of Evansville, Indiana, Respondent v. Adolph Kaufmann, Appellants

Summary

The Court held that the letter of credit was a special guaranty addressed solely to Bingham Bros., that it lacked any consideration, and therefore no cause of action arose that could be assigned to the plaintiff. Consequently, the plaintiff could not maintain a suit on the guaranty and the judgment in favor of the defendants was affirmed.