Letters of Credit and Demand Guarantees: Defences to Payment (Hardcover, New)

This book is the first to provide an extensive analysis of the range of defences to payment under letters of credit and demand guarantees.
It considers the extent to which different defences undermine the abstraction of these instruments. This is a fundamental issue, since letters of credit and demand guarantees are designed to be abstract, or autonomous, from the underlying contract that called for their use. The purpose of that abstraction is to provide certainty of payment, but the various defences diminish that certainty. The book examines the spectrum of defences that are frequently litigated and debated in international practice: fraud in the documents, nullity, fraud affecting deferred payment letters of credit, fraud as no honest belief, unconscionable conduct and illegality. Vitally, the book provides analysis of the relevant judicial decisions and offers clear practical guidance on which defences are most suitable for each instrument.
As the instruments are heavily used in international trade, this work is particularly suited to financial and commercial law practitioners who draft agreements, as well as those who advise on disputes concerning these instruments. Accessible and engaging, the book is also relevant for academics and students.

General

Imprint:	Oxford UniversityPress
Country of origin:	United Kingdom
Release date:	June 2010
First published:	August 2010
Authors:	Deborah Horowitz
Dimensions:	248 x 177 x 26mm (L x W x T)
Format:	Hardcover
Pages:	272
Edition:	New
ISBN-13:	978-0-19-958853-4
Categories:	Books > Law > Laws of other jurisdictions & general law > Financial, taxation, commercial, industrial law > Commercial law Books > Law > Laws of other jurisdictions & general law > Financial, taxation, commercial, industrial law > Financial law > Banking law Promotions
LSN:	0-19-958853-8
Barcode:	9780199588534

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