Non-Novel Issues of Letter of Credit Law: An Essay
Banking and Finance Law Review, Forthcoming
43 Pages Posted: 20 May 2009
Date Written: May 18, 2009
Should a common law court confronted with a dispute arising out of a commercial transaction with which it is unfamiliar, fashion novel rules of commercial law when tried and true rules can resolve the controversy? Surely, judicial efficiency and a policy of fulfilling the reasonable expectations of the commercial parties dictate a negative answer to that question.
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