Rugg, C.J. • This is an action of contract by merchants resident in Buenos Aires, Argentina, who seek to' recover damages against the defendant, a banking institution of this Commonwealth, arising from its refusal to accept and pay four drafts aggregating over $2,000,000 drawn by them on the defendant under a letter of credit issued by it in their favor. The conditions out of which the case arises were the great • scarcity of sug…
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