Research Repository

Beyond The American Accord: making the way for illegality in letters of credit

Antoniou, AM (2015) 'Beyond The American Accord: making the way for illegality in letters of credit.' Journal of International Banking Law and Regulation, 30 (4). 189 - 199. ISSN 0267-937X

Full text not available from this repository.

Abstract

This article addresses the illegality exception in commercial letters of credit. It examines the UK court decisions that have thus far developed the exception and critically analyses the requirements needed to establish it. It discusses policy considerations for recognising the exception and the effect of its recognition on international trade in general. It argues that flexibility in the autonomy principle is necessary to maintain letters of credit as the lifeblood of international commerce and that for the exception to have any real effect it must not be overly restrictive.

Item Type: Article
Uncontrolled Keywords: Bank payment obligations; Illegal contracts; International trade; Letters of credit; Nullity
Subjects: H Social Sciences > HG Finance
K Law > K Law (General)
Divisions: Faculty of Humanities > Law, School of
Depositing User: Jim Jamieson
Date Deposited: 16 Jun 2015 13:30
Last Modified: 11 Feb 2019 10:15
URI: http://repository.essex.ac.uk/id/eprint/13946

Actions (login required)

View Item View Item