The Independence Principle of Letters of Credit and Demand Guarantees

Hardcover | May 7, 2011

byNelson Enonchong

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The Independence Principle of Letters of Credit and Demand Guarantees offers a comprehensive and authoritative analysis of the principle of independence, a fundamental element of Letters of Credit and Demand Guarantees. It examines the key issues involved in the practical application of thisprinciple and the increasing exceptions to it, including a detailed account of the rules in this area.Beginning with an elementary account of the law of Letters of Credit and Demand Guarantees, the following chapters guide practitioners on the parameters of the Independence Principle. It will discuss the limitations of the principle, and assess whether new exceptions should be introduced. With English law and practice as the main focus of the work, comparisons to other major common law jurisdictions (including Australia, Canada, USA and Singapore) will be made where relevant and instructive.The landscape of the law in this area has changed markedly as a result of judicial decisions within the last five years, including decisions of the House of Lords, the Court of Appeal and the High Court. The fully updated analysis takes into account all the important developments that have takenplace in this field in recent years and will prove a valuable reference tool to practitioners and academics alike.

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The Independence Principle of Letters of Credit and Demand Guarantees offers a comprehensive and authoritative analysis of the principle of independence, a fundamental element of Letters of Credit and Demand Guarantees. It examines the key issues involved in the practical application of thisprinciple and the increasing exceptions to it...

Nelson Enonchong is Barber Professor of Law at the University of Birmingham. His primary area of expertise is in the fields of Contract, Commercial and Restittution Law. As a qualified Barrister, Professor Enonchong has commercial experience and advises practitioners working on complex commercial transactions.
Format:HardcoverDimensions:472 pages, 9.69 × 6.73 × 0.1 inPublished:May 7, 2011Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199239711

ISBN - 13:9780199239719

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Table of Contents

1. Introduction2. The Nature of Letters of Credit3. The Nature of Demand Guarantees4. The Independence Principle5. The Fraud Exception6. A Nullity or Recklessness Exception?7. An Unconscionability Exception8. The Illegality Exception9. Demands Made in Breach of Underlying Contract10. Provisional Measures11. Claims Against the Beneficiary for a Wrongful Demand12. Recovery of Overpayments13. Conflict of Laws