HERMAN, District Judge.
I. INTRODUCTION
Plaintiff initiated this action on April 15, 1980 when it filed a complaint alleging that Defendant owes it money pursuant to an irrevocable letter of credit. Plaintiff is the Roman Ceramics Corporation (hereafter referred to as "Roman"), a Delaware corporation with principal place of business in Illinois, and Defendant is Peoples National Bank (hereafter referred to as "Peoples"), a Pennsylvania banking association...
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