Crown Corporation has borrowed $$16,000,000$ from Third Bank. Third Bank required four sureties for the loan. The sureties are as follows:$$Tri County defaulted on the loan and Security Bank repossessed the collateral. The inventory was dam$-$ aged while Security Bank held it$,$ and as a result, the sale of the inventory brought only $$5,257\mathrm{.}50$ at a public auction. The Burks raised the defense of the damages as a setoff to their surety amount for the remainder of the loan. Security Bank said the Burks could not raise the damages as a defense because the Burks were sureties and had guaranteed the full amount of the loan. The trial court granted summary judgment for Security Bank, and the Burks appealed. What should the court do$?[$Security State Bank v$.$ Burk, $995$ P$\mathrm{.}2$d $1272($Wash App.$)]8.$ UPS Capital Business Credit agreed to loan Ashford International, Inc, an American company based in Atlanta, Georgia, for the sale of computers to the Ministry of Education in Jordan. Ashford was required to obtain a letter of credit from United California Discount Corporation $($UCDC$)$ for the loan. Ashford filed for bankruptcy and UPS sub$-$ mitted documentation for payment on the letter of credit. UCDC responded to the payment demand with a list of requirements for compliance with the letter of credit demands. UPS satisfied all the demands and UCDC then refused to pay because UPS did not submit original documents as required by the letter of credit. UPS maintains that UCDC waived that requirement by not listing it in its demands. Who is correct and why? $[$Export$-$Import Bank of the U$.$S$.$ v$.$ United Cal. Discount Corp.,$738$ F$.$ Supp. $2$d $1047($C$.$D$.$ Cal.$)]9.$ Ribaldgo Argo Consultores entered into a contract with R$.$ M$.$ Wade & Co$.$ for the purchase of irriga$-$ tion equipment. Ribaldgo obtained a letter of credit from Banco General, a bank with its principal place of business in Quito, Ecuador. The letter of credit required that Wade submit certain documents to obtain payment. The documents were submitted through Citibank as correspondent bank for$$Banco General. However, the documents were incomplete, and Citibank demanded additional information as required under the letter of credit. By the time Wade got the documents to Citibank, more than $15$ days had expired, and the letter of credit required that Wade submit all documentation within $15$ days of shipping the goods to obtain pay$-$ ment. Citibank refused to authorize the payment. Wade filed suit. Must Citibank pay? Why or$$why not? $[$Banco General Runinahui, S$.$A$.$ v$.$ Citibank International, $97$ F$\mathrm{.}3$d $480(11$th Cir.$)]$Andover Busch Chapman Davidson$$$$4,000,0000$ $$8,000,0000$ $$2,000,0000$ $$2,000,0000$Crown has defaulted on the loan after paying back $$4,000,000.$ How much will each surety be required to pay? What if Busch was bankrupt? How much would Andover, Chapman, and Davidson have$$to pay?