The Role of Reputation in Banking
Published in the Journal of Banking and Finance Law and Practice, Vol. 20, p. 37-50, 2009
18 Pages Posted: 16 Jun 2009
Date Written: June 1, 2009
The law is the dominant framework within which transactions occur. However, another important framework is that of reputation and the need all businesses have to enhance and preserve it. Usually through long experience, legal practitioners become aware of the influence and importance of reputation, and the role that the need for any business to preserve it serves as an enforcement mechanism.
This essay considers the role of the institution of reputation in banking transactions, in particular the role of reputation in documentary credit transactions.
Keywords: Banking and Finance
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