Documentary Compliance in Letter of Credit Law: What’s in a Name, and What Need for an Original?
Wayne State University Law School
Piaggio & C.S.p.A. v. The Bank of Nova Scotia, No. 1, 2011
Wayne State University Law School Research Paper No. 2013-15
This article analyzes a moderately complex documentary compliance case that involved the misnaming of the beneficiary on various documents and the failure to present the original of the letter of credit. The piece concludes that courts must not impose factual inquiry duties on credit issuers who should be able to dishonor when the beneficiary’s name on documents varies the name in the credit itself and should not be required to take bonds or other security when the beneficiary fails to present the original of the credit as the letter of credit requires.
Number of Pages in PDF File: 11Accepted Paper Series
Date posted: May 12, 2013
© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo8 in 0.297 seconds