Fraud In Letters Of Credit Under English Law
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Fraud In Letters Of Credit Under English Law
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Author : Zaid Aladwan
language : en
Publisher:
Release Date : 2018
Fraud In Letters Of Credit Under English Law written by Zaid Aladwan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Electronic books categories.
According to many cases, it has been demonstrated that sellers with bad intentions have manipulated letters of credit system in many ways, including fraud. Thus, many legal jurisdictions have recognized the fraud exception rule. In order to apply such exception, some conditions must be met. Among these conditions, the bank,Äôs knowledge and a requirement of a clear evidence. Notably, the bank,Äôs knowledge is crucial, meaning that the establishment of the sole exception will depend upon the status of the bank,Äôs knowledge. Meaning that if the bank is aware of existing fraud, it is under a duty to refuse presentation. Otherwise, it should not. In turn, the establishment of clear evidence by the English courts is somewhat hard to achieve, consequently, such condition criticized often. Further, if the beneficiary himself commits the fraud, or has knowledge of the fraud, then the fraud exception rule will apply.1 This raises the question of whether the fraud exception should also bite where the fraud is committed by a third party but without the beneficiary,Äôs knowledge. From these facts, this chapter will try to analysis the status of the bank,Äôs knowledge and the hardship related to the clear evidence requirement in conjunction with the third-party fraud.
The Fraud Rule In The Law Of Letters Of Credit A Comparative Study
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Author : Xiang Gao
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2002-01-01
The Fraud Rule In The Law Of Letters Of Credit A Comparative Study written by Xiang Gao and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-01-01 with Law categories.
"Dr. Gao finds the best provisions and practices in respect of the fraud rule in the United States, the United Kingdom, Canada, and Australia, and applies these standards to the reformulation of the fraud rule in the PRC. In the process be surveys the entire field of the fraud rule in the law of letters of credit in its substantive aspects, thus going deeper than mere banking law analyses and revealing, for the benefit of jurists everywhere, the fundamental legal issues that must underlie all sound judicial reasoning in the area. In more practical terms, this approach also allows judges to meet their essential responsibility - that of giving an answer when a case is put before them - with the widest and best possible degree of discernment."--BOOK JACKET.
The Liability Of Banks Under Letters Of Credit
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Author : Matti Kurkela
language : en
Publisher:
Release Date : 1982
The Liability Of Banks Under Letters Of Credit written by Matti Kurkela and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with Banking law categories.
Letters Of Credit
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Author : Michael Rowe
language : en
Publisher:
Release Date : 1985
Letters Of Credit written by Michael Rowe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Letters of credit categories.
Letters Of Credit
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Author : Lazar Sarna
language : en
Publisher:
Release Date : 1986
Letters Of Credit written by Lazar Sarna and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Banks and banking categories.
The Law Of Letters Of Credit
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Author : John F. Dolan
language : en
Publisher: Warren Gorham & Lamont
Release Date : 1991
The Law Of Letters Of Credit written by John F. Dolan and has been published by Warren Gorham & Lamont this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Business & Economics categories.
This treatise addresses all standby and commercial letter of credit problems and provides guidance through the case law under UCC Article 5. Establishing, amending, and terminating the letter of credit is discussed in detail.
The Law Of Documentary Letters Of Credit In Comparative Perspective
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Author : A. N. Oelofse
language : en
Publisher:
Release Date : 1997
The Law Of Documentary Letters Of Credit In Comparative Perspective written by A. N. Oelofse and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Documentary credit categories.
A Comparison Of The Us And English Law Relating To The Fraud Exception To The Autonomy Of The Letter Of Credit
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Author : Zavou Katerina-Labrini
language : en
Publisher:
Release Date : 1998
A Comparison Of The Us And English Law Relating To The Fraud Exception To The Autonomy Of The Letter Of Credit written by Zavou Katerina-Labrini and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with categories.
Standby And Commercial Letters Of Credit
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Author : Brooke Wunnicke
language : en
Publisher: Wolters Kluwer
Release Date : 2000-10-01
Standby And Commercial Letters Of Credit written by Brooke Wunnicke and has been published by Wolters Kluwer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-10-01 with Business & Economics categories.
Standby and Commercial Letters of Credit, Third Edition alerts you to current developments and discusses the recent UCP600, former UCP500, ISP98, UCC Article 5, and current trade practices and problems. The authors review letter of credit law and practices, helping to resolve concerns of applicants, beneficiaries, and issuers. This essential resource includes: Sample forms and clauses, procedures and checklists Current court cases and extensive Table of Cases What can happen to letters of credit in bankruptcy and insolvency proceedings Fraud and injunction nightmares Cross-reference table UCP600 and UCP500 Strategies for bank reimbursement agreements Standby and Commercial Letters of Credit, Third Edition gives you immediate guidance when you need it most. And it supplies real-world letters of credit situations, with analyses of what was done right and wrong.
Letters Of Credit And Demand Guarantees Defences To Payment
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Author : Deborah Horowitz
language : en
Publisher: Oxford University Press
Release Date : 2010-06-10
Letters Of Credit And Demand Guarantees Defences To Payment written by Deborah Horowitz and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-06-10 with Business & Economics categories.
This book is the first to provide an extensive analysis of the range of defences to payment under letters of credit and demand guarantees. It considers the extent to which different defences undermine the abstraction of these instruments. This is a fundamental issue, since letters of credit and demand guarantees are designed to be abstract, or autonomous, from the underlying contract that called for their use. The purpose of that abstraction is to provide certainty of payment, but the various defences diminish that certainty. The book examines the spectrum of defences that are frequently litigated and debated in international practice: fraud in the documents, nullity, fraud affecting deferred payment letters of credit, fraud as no honest belief, unconscionable conduct and illegality. Vitally, the book provides analysis of the relevant judicial decisions and offers clear practical guidance on which defences are most suitable for each instrument. As the instruments are heavily used in international trade, this work is particularly suited to financial and commercial law practitioners who draft agreements, as well as those who advise on disputes concerning these instruments. Accessible and engaging, the book is also relevant for academics and students.
