Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

BANQUE DE L'INDOCHINE ET DE SUEZ S.A. v. J. H. RAYNER (MINCING LANE) LTD.

[1983] 1 Lloyd's Rep 228

COURT OF APPEAL

Before Sir John Donaldson, M.R., Lord Justice Kerr and Sir Sebag Shaw

Banking - Letter of credit - Payment effected under reserve - Bank alleged discrepancies in documents - Documents rejected - Whether bank entitled to repayment of amount paid under reserve - Extent of obligation of beneficiary under letter of credit who accepted payment under reserve.

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