Heritage Bank v. Redcom Laboratories, Inc.

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Appeal from the United States District Court for the Northern District of Texas

Heritage Bank issued a letter of credit to Fiber Wave Telecom, Inc. (“Fiber Wave”), which used it to purchase electronics from Redcom Laboratories, Inc. (“Redcom”), which delivered the goods and made presentment to the bank for payment. Fiber Wave believed the goods defective and successfully petitioned a Texas court to enjoin the bank from honoring Redcom’s presentment.*fn1 Redcom made another demand on the bank during the pendency of the injunction, but the bank refused to honor the presentment and sought a declaratory judgment exonerating it from liability.

Redcom sued the bank for wrongful dishonor, and the district court granted summary judgment for Redcom. The bank appeals, arguing that the court erred in exercising diversity jurisdiction and in granting summary judgment. Finding no reversible error, we affirm.

More From ALM

There is no one-size-fits-all model for legal remote work, but there are some considerations that are important for every firm and legal department to address before choosing whether to adopt or update a remote work framework.

The Ultimate Guide to Remote Legal Work

Brought to you by Filevine
Download Now

Gain a comprehensive understanding of the Corporate Transparency Act (CTA) and its implications for law firms and their clients.

Law Firm Operational Considerations for the Corporate Transparency Act

Brought to you by Wolters Kluwer
Download Now

As generative artificial intelligence inspires one of the biggest transformations in generations, Practical Guidance continues to provide the latest tips to help you prepare for the rapid evolution in the way attorneys work.

Practical Guidance Journal: Protecting Work Product in a Generative AI World

Brought to you by LexisNexis®
Download Now

Premium Subscription

With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now

Team Accounts

Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now

Bundle Subscriptions

Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now

From Data to Decisions

Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends.

Exclusive Depth and Reach.

Law.com Compass includes access to our exclusive industry reports, combining the unmatched expertise of our analyst team with ALM’s deep bench of proprietary information to provide insights that can’t be found anywhere else.

Big Pictures and Fine Details

Law.com Compass delivers you the full scope of information, from the rankings of the Am Law 200 and NLJ 500 to intricate details and comparisons of firms’ financials, staffing, clients, news and events.

Middle East Legal Awards 2024

April 25, 2024
Dubai

Law firms & in-house legal departments with a presence in the middle east celebrate outstanding achievement within the profession.

Learn More

BenefitsPRO Broker Expo 2024

April 29, 2024 - May 01, 2024
Aurora, CO

The premier educational and networking event for employee benefits brokers and agents.

Learn More

Pennsylvania Legal Awards 2024

May 15, 2024
Philadelphia, PA

The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania and Delaware.

Learn More

Senior In-House Contracts Administrator

A large and well-established Tampa company is seeking a contracts administrator to support the company's in-house attorney and manage a wide...

Apply Now ›

COMMERCIAL FINANCE ATTORNEY - STAMFORD, HARTFORD OR NEW HAVEN OFFICES

We are seeking an attorney to join our commercial finance practice in either our Stamford, Hartford or New Haven offices. Candidates should ...

Apply Now ›

CORPORATE ATTORNEY (8+ Years) - REMOTE, CT

We are seeking an attorney to join our corporate and transactional practice. Candidates should have a minimum of 8 years of general corporat...

Apply Now ›

MELICK & PORTER, LLP

04/15/2024
Connecticut Law Tribune

MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS

View Announcement ›

Apruzzese, McDermott, Mastro & Murphy, P.C.

04/11/2024
New Jersey Law Journal

Professional Announcement

View Announcement ›

Robbins Alloy Belinfante Littlefield

04/08/2024
Daily Report

Daily Report 1/2 Page Professional Announcement 60 Days

View Announcement ›

Heritage Bank v. Redcom Laboratories, Inc.

Share with Email

Thank you for sharing!

Trending Stories

More From ALM

Subscribe to Law.com