Letters of Credit Givray, Albert J.; Brandt, Michael J.; Brody, Mary P. ...
The Business lawyer,
08/1992, Letnik:
47, Številka:
4
Journal Article
Recenzirano
The past few years have seen an increasing amount of litigation regarding letters of credit (LC), and 1991 continued the trend. The 4 main areas where LC disputes are most often litigated are: 1. ...wrongful dishonor, 2. court injunctions and the "fraud" exceptions, 3. wrongful honor, and 4. wrongful draw claims, bankruptcy disputes, and presentment warranties. Wrongful dishonor disputes are those in which an issuer has examined the presented documents, decided that the presentment does not comply with the LC's requirements, and refused to pay. The most articulate explanation for strict compliance appeared in LeaseAmerica Corp. versus Norwest Bank Duluth NA (1991). Several areas of disputes in which wrongful dishonor is a central part of the litigation include nonforming documents, cases of ambiguity, untimely-presentment cases, and wrong-beneficiary cases.
