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What is Bank Dispute Over Foreign Credit Case about?

The plaintiff applied to the defendant bank for a foreign credit to purchase coal from Australia. The defendant opened a credit with an Australian bank, and the plaintiff received and paid four drafts drawn by the Australian company on him. However, the defendant bank charged the plaintiff 9% interest on the draft amounts from the dates of the drafts until their estimated arrival in London. The plaintiff was unaware of these interest charges by the defendant bank and sued to recover the amounts paid, totali

Author

Karl Stephen Sorrosa

Language

EN