In the absence of fraud by the seller in presenting documents to the confirming bank seeking payment, the court will not restrain a bank from paying a letter of credit which is payable according to its terms, nor a beneficiary from seeking payment.
Judges:
Staughton LJ
Citations:
[1996] 1 LLR 345
Jurisdiction:
England and Wales
Cited by:
Cited – Mahonia Limited v JP Morgan Chase Bankwest Lb Ag QBD 3-Aug-2004
The Claimant claimed on a letter of credit issued by the Defendant on behalf of Enron Ltd, who asserted it was not liable to pay there having been unlawful behaviour by Enron Ltd. Swap agreements had been entered into, and the defendant said the . .
Lists of cited by and citing cases may be incomplete.
Banking
Updated: 27 October 2022; Ref: scu.200487
