Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

SEACONSAR FAR EAST LTD. v. BANK MARKAZI JOMHOURI ISLAMI IRAN

[1994] 1 Lloyd's Rep. 1

HOUSE OF LORDS

Before Lord Templeman, Lord Griffiths, Lord Goff of Chieveley, Lord Browne-Wilkinson and Lord Mustill

Banking - Letter of credit - Bank alleged discrepancies in shipping documents - Bank rejected documents - Whether documents conformed to letter of credit - Whether rejection in time - Whether plaintiffs had good arguable case on the merits - Whether leave to serve out of jurisdiction should be set aside.

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