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Bank Liability in Commercial Letters of Credit by Agnes Pajilan is a document available to read on EtoBox.
What is Bank Liability in Commercial Letters of Credit about?
The Bank of the Philippine Islands issued four irrevocable commercial letters of credit to De Reny Fabric Industries to finance the import of dyestuffs from the US. However, upon arrival in Manila, the goods were found to be colored chalk instead of dyestuffs. De Reny Fabric Industries refused to accept or pay for the goods. The Bank sued to recover payment. The court affirmed the lower court
- Author
- Agnes Pajilan
- Language
- EN