Lord Bridge of Harwich said: ‘it is elementary that as between the two immediate parties to a bill of exchange which is treated in international commerce as the equivalent of cash, the fact that the defendant may have a counterclaim for unliquidated damages arising out of the same transaction forms no sort of defence to an action on a bill of exchange.’
Citations:
[1980] 1 Lloyds R 50, [1979] 1 WLR 1180
Banking
Updated: 04 May 2022; Ref: scu.459794