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BPI by Courtney Tirol is a document available to read on EtoBox.
What is BPI about?
The case involves 4 irrevocable commercial letters of credit issued by BPI to cover purchases by De Reny Fabric Industries of dyestuffs from an American supplier. When the shipments arrived, they contained colored chalks instead of dyestuffs. De Reny refused further payments and possession of the goods. BPI sued. De Reny argued BPI was responsible for ensuring the goods conformed to the letters of credit. However, the court ruled that under the agreement and international banking customs, banks only deal wi
- Author
- Courtney Tirol
- Language
- EN