Trace Your Case

ISSUE:

Whether a charge was created in favor of the bank to satisfy the debt arising under the letter of guarantee?

And if such a charge existed, is it enforceable by the bank even though they were not a party to the contract.

RULE:

A beneficiary under a contract that creates a trust in his favor can sue upon a contract.

A beneficiary under a contract who is a part of a family arrangement can sue upon a contract.

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