Continental Illinois National Bank issued an irrevocable letter of credit on behalf of Bill’s Coal Company for $805,000, with the Allied Fidelity Insurance Co. as beneficiary. Bill’s Coal Co. then went bankrupt, and subsequently Allied presented to Continental documents that were complete and conformed to the letter of credit. Continental refused to pay. Because Bill’s Coal was bankrupt, there was no way Continental would collect once it had paid on the letter. Allied filed suit. Who should win?