SEACONSAR FAR EAST LTD. v. BANK MARKAZI JOMHOURI ISLAMI IRAN
[1997] 2 Lloyd's Rep. 89
QUEEN’S BENCH DIVISION(COMMERCIAL COURT)
Before Mr. Justice Tuckey
Banking - Letter of credit - Article 16 of UCP 400 - Construction - Plaintiffs made two presentations under letter of credit issued by defendants - Whether documents rejected in accordance with art. 16 - Whether oral rejection valid under art. 16 - Whether plaintiffs entitled to claim interest.