an assignment is acknowledged: The Court finds that UPS assigned to plaintiff the complete bundle of rights that UPS held as a result of Ashford’s indebtedness to UPS, including UPS’s rights relating to defendant’s failure to honor the draft on the UCDC LOCs. Included within the bundle of rights assigned to plaintiff was UPS’s right of action against defendant for wrongful dishonor of the UCDC LOCs. See Cal. Civ.Code § 954 (“A thing in action, arising out of the violation of a right of property, or out of an obligation, may be transferred by the owner.”). Plaintiff has standing to maintain this action as the assignee of UPS’s claims for relief against defendant for wrongful dishonor of the UCDC LOCs. See Bd. of Trade of S.F. v. Swiss Credit Bank, 728 F.2d 1241, 1242-43 (9th Cir.1984) (<HOLDING>). Defendant’s reliance on California Commercial
holding that documents did not substantially comply where copies of letter of credit and promissory note were submitted and letter of credit required originals holding that a party providing a letter of credit fails at its peril to include in the letter language restricting honor and payment of the credit holding that a bank fee for a letter of credit to secure a stay pending appeal was not a taxable cost where no statute or court rule allowed such a cost and where the letter of credit was unnecessary and therefore a discretionary expense to which the opposing party had objected holding that  1823e does not apply to a claim relating to a letter of credit a letter of credit is a liability not an asset holding that plaintiff had standing where the beneficiary of a letter of credit had assigned to plaintiff its cause of action for wrongful dishonor of the letter of credit