The Fraud Rule in the Law of Letters of Credit

The Fraud Rule in the Law of Letters of Credit

4.11 - 1251 ratings - Source

qDr. 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.q--BOOK JACKET.Transferees A transferable letter of credit is a credit under which the beneficiary may request the bank authorised to honour the ... the third party is known as the second beneficiary or transferee beneficiary.109 The law is not very friendly to the transfer of letters of credit. ... or part of the underlying contract, submit its own invoices and draw drafts or otherwise demand payment under the letter of credit itself.

Title:The Fraud Rule in the Law of Letters of Credit
Author:Xiang Gao (L.L.M.), Xiang Gao
Publisher:Kluwer Law International - 2002-01-01


You Must CONTINUE and create a free account to access unlimited downloads & streaming