ASTILLEROS ESPAÑOLES S.A. AND BANCO EXTERIOR DE ESPAÑA S.A. v. BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION
[1995] 2 Lloyd's Rep. 352
COURT OF APPEAL
Before Lord Justice Evans, Lord Justice Otton and Lord Justice Pill
Banking - Letter of guarantee - Construction - Shipbuilding contract - Default in payment of instalments - Defendants made payments - Whether payments discharged defendants’ liability under guarantee.