Thesis (doctoral)--Universität Erlangen, 1928. / Includes bibliographical references (p. vii-x).

Thesis (doctoral)--Universität Göttingen 1915. / Bibliography: p. [5]-6.

Thesis (doctoral)--Universität Göttingen 1915. / Includes bibliographical references (p. [5]-6).

Diss.--Zürich, 1921. / Includes bibliography.

Written for the Faculty of Law. Title from title page of PDF (viewed 2010/04/20). Includes bibliographical references.

No description available.

LL.M. / The objective of this study is to identify the legal systems that should be applied in terms of South African private international law to the different contractual relationships in respect of a documentary letter of credit. In South Africa no legislation or (binding) case law in point exists. A comparative study is therefore made of the relevant legal rules and principles in the following countries: the United Kingdom; Germany; the Netherlands; Canada; Australia; and the United States of America. It is submitted that, in the absence of either an express or a tacit choice of a legal system by the parties, the proper law of a documentary letter of credit transaction in South African private international law should be – 1) in respect of the contractual relationship between the applicant and the issuing bank: the law of the country where the issuing bank is situated; 2) in respect of the contractual relationship between the issuing bank and the correspondent bank (whether confirming or merely advising): the law of the country where the correspondent bank is situated; 3) in respect of the contractual relationship between the confirming bank and the beneficiary: the law of the country where the confirming bank is situated; 4) in respect of the contractual relationship between the issuing bank and the beneficiary – a) where a correspondent bank (whether confirming or merely advising) is involved: the law of the country where the correspondent bank is situated; b) where no correspondent bank is involved: the law of the country where the issuing bank is situated.

During the last ten years, there has been a remarkable increase in the number of cases involving incidents of fraud in standby letters of credit. The purpose of this thesis is to examine the effect of fraud on standby letters of credit transactions. This study principally deals with standby letters of credit issued under the 1983 Revision of the Uniform Customs and Practice for Documentary Credits, drafted by the International Chamber of Commerce, which is a set of internationally recognized rules for documentary credit operations. Due to the international character of letters of credit law, I have adopted a comparative approach that deals with materials from the U.S., Canada, U.K., Germany and Switzerland. This thesis will first show that there are two types of standby letters of credit, which have to be distinguished because they involve different obligations and risks for the parties. A device payable against the beneficiary's simple statement will be described as a "simple statement" standby credit, whereas a device payable against a set of documents will be called a "documentary" standby credit. The thesis will then demonstrate why the treatment of fraud should not be the same for "simple statement" standby credits and "documentary" standby credits. / Law, Peter A. Allard School of / Graduate

Thesis (Ph. D.)--University of Queensland, 2003. / Includes bibliographical references.

The thesis covers aspects of the law relating to letters of credit. It deals with the operation of letters of credit with particular reference to the doctrine of strict compliance, the principle of independence, the fraud exception and conflict of laws. According to the principle of independence, banks must make payment in terms of the letter of credit irrespective of any dispute that may exist between the buyer and the seller in an underlying contract or other contracts. Although the principle of independence is clearly established, it is not absolute. An exception occurs in the case of fraud. Thus, if the seller has committed fraud, such as tendering forged documents, the buyer can instruct the bank not to make payment in terms of the credit. If the bank refuses to dishonour the letter of credit, the buyer can apply to a court to interdict the bank from making payment. In South African law the buyer must establish that the seller was party to fraud in relation to the documents presented to the bank for payment before the court can grant an interdict. This thesis also examines the standard of proof of fraud required in letters of credit transactions and proposes a standard of proof which will not unduly favour the seller whose good faith is in dispute. The fast growing technology of computers and telecommunications is rapidly changing the methods of transacting business by paper documentation and letter of credit transactions are no exception. At present the buyer can apply to the bank to issue a letter of credit through the computer and banks also communicate letter of credit transactions through computer networks. However, the beneficiary still has to present documents to the bank for payment in paper form. It is proposed that the Uniform Custom and Practice For Documentary Credits (UCP) be amended to provide for fully computerised letters of credit transactions. Another objective of the thesis is to examine the doctrine of strict compliance. In terms of the doctrine of strict compliance documents presented under the credit must comply strictly with the requirements set out in the credit. If banks are satisfied that the documents presented by the seller strictly conform with the requirements of the credit they are obliged to make payment as required by the credit. It is proposed that the doctrine of strict compliance should not be applied strictly. In other words, the banks should make payment in terms of the credit if the discrepancy in the documents is trivial. The thesis also covers conflict of laws issues. As the UCP does not have rules dealing with conflict of laws, most jurisdictions have developed their own rules to be applied by the courts in cases of conflict of laws. The thesis examines the different rules of conflict of laws as developed and practiced by different jurisdictions.