SmartBrief
Confirm favorite deletion?
Banking Law Keyed to Malloy, 4th Ed.
Citibank v. Wells Fargo Asia
Citation:
495 U.S. 660 (1990)Facts
In June 1983, Wells Fargo Asia Limited (WFAL) agreed to make two $1 million time deposits with Citibank’s Manila branch at 10% interest, to be repaid in December 1983. The deposits were arranged through an Asian money broker with confirmation telexes exchanged between the parties. The telexes specified that repayment would be made through Citibank New York to WFAL’s account with Wells Fargo Bank International in New York. A few months later, the Philippine government issued a regulation (MAAB 47) requiring prior approval for repayment of foreign obligations. When the deposits matured in December 1983, Citibank/Manila refused to repay WFAL’s deposits, citing this regulation. During the litigation, Citibank obtained permission to repay depositors to the extent it could do so with non-Philippine assets of the Manila branch, and paid WFAL $934,000, leaving $1,066,000 in dispute.
Only StudyBuddy Pro offers the complete Case Brief Anatomy*
Access the most important case brief elements for optimal case understanding.
*Case Brief Anatomy includes: Brief Prologue, Complete Case Brief, Brief Epilogue
- The Brief Prologue provides necessary case brief introductory information and includes:
Topic:
Identifies the topic of law and where this case fits within your course outline.Parties:
Identifies the cast of characters involved in the case.Procedural Posture & History:
Shares the case history with how lower courts have ruled on the matter.Case Key Terms, Acts, Doctrines, etc.:
A case specific Legal Term Dictionary.Case Doctrines, Acts, Statutes, Amendments and Treatises:
Identifies and Defines Legal Authority used in this case.
- The Case Brief is the complete case summarized and authored in the traditional Law School I.R.A.C. format. The Pro case brief includes:
Brief Facts:
A Synopsis of the Facts of the case.Rule of Law:
Identifies the Legal Principle the Court used in deciding the case.Facts:
What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case.Issue(s):
Lists the Questions of Law that are raised by the Facts of the case.Holding:
Shares the Court's answer to the legal questions raised in the issue.Concurring / Dissenting Opinions:
Includes valuable concurring or dissenting opinions and their key points.Reasoning and Analysis:
Identifies the chain of argument(s) which led the judges to rule as they did.
- The Brief Prologue closes the case brief with important forward-looking discussion and includes:
Policy:
Identifies the Policy if any that has been established by the case.Court Direction:
Shares where the Court went from here for this case.