This case highlights the nature of "fraud" in a documentary sale with Letter of Credit(L/C). Even in case of a fraud , if the presentment is made by the holder of due course of action, the bank has to honor the request.
I have posted mechanisms of important historical international trade transaction cases, in chronological order. The mechanisms are based on my understanding of cases and maynot necessarily reflect the actual meanings involved.- Anuj Varshney Baruch College
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Please double-click on pages to see the mechanisms of transactions in DETAILS.
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- Anuj Varshney
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The case-analysis are based on a compilation by prof. Seth Lipner, noted lawyer and academician, used in course "international trade and investment law" at Baruch College.
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