CHAILEASE FINANCE CORPORATION v. CREDIT AGRICOLE INDOSUEZ

[2000] 1 Lloyd's Rep. 348

COURT OF APPEAL

Before Lord Justice Potter and Mr. Justice Ferris

Banking - Jurisdiction - Letter of credit - Place of performance of obligation - Agreement for sale of vessel - Payment to be by irrevocable letter of credit against presentation of documents - Instruction for payment to be made in London - Whether England place of performance of obligation - Whether English Court had jurisdiction - Civil Jurisdiction and Judgments Act, 1982, Schedule, art. 5. Banking - Letter of credit - Non-conformity - Agreement for sale of vessel - Payment to be by irrevocable letter of credit against presentation of documents - Delivery date in bill of sale a day later than range of dates specified in letter of credit - Whether bill of sale a non-conforming document.