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Monter Joint Stock v. Udruzena Beogradska

Appellate Division of the Supreme Court of New York, First Department
Jan 21, 1999
257 A.D.2d 496 (N.Y. App. Div. 1999)

Opinion

January 21, 1999.

Appeal from the Supreme Court, New York County (Charles Ramos, J.).


The cause of action against the issuing banks, Udruzena Beogradska Banka and its related entities, was properly dismissed on the ground that they were prohibited from honoring plaintiff's draw down request on the letter of credit by the Federal asset freeze in effect at the time ( 50 U.S.C. § 1702 [a] [3]). Plaintiff's present claim of anticipatory breach based on the banks failure to offer to honor the letter of credit once sanctions are lifted in the future ( see, Norcon Power Partners v. Niagara Mohawk Power Corp., 92 N.Y.2d 458) is improperly raised for the first time on appeal, and, in any event, is without merit absent allegations or proof that plaintiff ever made the requisite demand for assurances of future performance. Assuming, arguendo, personal jurisdiction over defendant Generalexport Belgrade, the cause of action against it for breach of guarantee was properly dismissed based upon the forum selection clauses in the contracts, which the motion court properly construed without resort to extrinsic evidence ( see, Kass v. Kass, 91 N.Y.2d 554, 566-567). However, since defendant BSE did not move for such relief and was not a party to the agreements containing the forum selection clauses, it was error to dismiss the unjust enrichment cause of action against it ( see, Banco do Estado de Sao Paulo v. Mendes Jr. Intl. Co., 249 A.D.2d 137, 138-139; cf., TNS Holdings v. MKI Sec. Corp., 92 N.Y.2d 335, 339).

Concur — Rosenberger, J.P., Ellerin, Tom and Saxe, JJ.


Summaries of

Monter Joint Stock v. Udruzena Beogradska

Appellate Division of the Supreme Court of New York, First Department
Jan 21, 1999
257 A.D.2d 496 (N.Y. App. Div. 1999)
Case details for

Monter Joint Stock v. Udruzena Beogradska

Case Details

Full title:MONTER JOINT STOCK COMPANY, Appellant, v. UDRUZENA BEOGRADSKA BANKA et…

Court:Appellate Division of the Supreme Court of New York, First Department

Date published: Jan 21, 1999

Citations

257 A.D.2d 496 (N.Y. App. Div. 1999)
684 N.Y.S.2d 214

Citing Cases

Monter Joint Stock Co. v. Superintendent of Banks of State of N. Y., 2009 NY Slip Op 32113(U) (N.Y. Sup. Ct. 9/14/2009)

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Monter Joint St. Co. v. Super. of Banks of N.Y.

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