Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

BAYERISCHE VEREINSBANK AKTIENGESELLSCHAFT v. NATIONAL BANK OF PAKISTAN

[1997] 1 Lloyd's Rep. 59

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Justice Mance

Banking - Letter of credit - UCP 500 - Letter of credit issued to cover price of cotton to be shipped and sold - Defendants failed to take up documents - Whether plaintiffs provided defendants with statement that documents presented within time limit - Whether weight certificate complied with terms of credit - Whether defendants justified in refusing documents - UCP 500, arts. 14, 44.

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