Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

UNITED CITY MERCHANTS (INVESTMENTS) LTD. AND GLASS FIBRES AND EQUIPMENTS LTD. v. ROYAL BANK OF CANADA, VITROREFUERZOS S.A. AND BANCO CONTINENTAL S.A.

[1982] 2 Lloyd's Rep. 1

HOUSE OF LORDS

Before Lord Diplock, Lord Fraser of Tullybelton, Lord Russell of Killowen, Lord Scarman and Lord Bridge of Harwich

Banking - Letter of credit - Illegality - Whether letter of credit in breach of Peruvian exchange control regulations - Whether letter of credit enforceable - Bretton Woods Agreements Order in Council, 1946. Banking - Letter of credit - Bill of lading - Date on bill of lading altered - Whether allegations of fraud made out - Whether letter of credit amended - Whether defendants entitled to refuse payments against document presented.

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