Fed. Sec. L. Rep. P 96,125 United California Bank, a California Corporation v. Thc Financial Corp., a Hawaii Corporation, United California Bank, a California Corporation v. Thc Financial Corp., a Hawaii Corporation
Opinion
Opinion
557 F.2d 1351 Fed. Sec. L. Rep. P 96,125 UNITED CALIFORNIA BANK, a California Corporation, Plaintiff-Appellee, v. THC FINANCIAL CORP., a Hawaii Corporation, Defendant-Appellant. UNITED CALIFORNIA BANK, a California Corporation, Plaintiff-Appellant, v. THC FINANCIAL CORP., a Hawaii Corporation, Defendant-Appellant. Nos. 75-1811, 75-2733. United States Court of Appeals, Ninth Circuit. July 25, 1977. Terence J. O'Toole, Carlsmith, Carlsmith, Wichman & Case, Honolulu, Hawaii, argued, for defendant-appellant. John A. Hoskins, Anthony, Hoddick, Reinwald & O'Connor, Honolulu, Hawaii, argued, for plaintiff-appellee. Appeal from the United States District Court for the District of Hawaii. Before ELY, WRIGHT and KENNEDY, Circuit Judges. EUGENE A. WRIGHT, Circuit Judge: 1 This breach of contract suit against The Hawaii Company Financial Corp. (THCF) by United California Bank (UCB) arises from THCF's refusal to purchase $500,000 of Climate Company's (Climate) promissory notes from UCB upon demand pursuant to a "put letter" of July 2, 1973. 1 2 Under the terms of the put letter UCB was to extend a $500,000 line of credit to Climate for six months conditioned on THCF's agreement to buy…