Courtaulds v. NCN Bank - Case 5 PDF

Title	Courtaulds v. NCN Bank - Case 5
Course	Comparative Business And European Law
Institution	Università Commerciale Luigi Bocconi
Pages	1
File Size	43.7 KB
File Type	PDF
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Case 5...

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Case

Courtaulds North America Inc. vs. North Carolina National Bank

United Sates Courts of Appeals, Sept - Dec 1975 Courtaulds North America (Appellee) vs. North Carolina National Bank (Appellant) whether or not the draft presented by courtaulds was compliant with the Letter of Credit Courtaulds presented a draft that as judged non compliant with the LoC by the Bank, the bank that then refused to honour the draft. Draft was then amended, however the bank refused it because it was expired. Facts Courtaulds said that the invoicedid mention that the package contained the indication 100% acrylic as required in Arguments the LoC. Previous judgement reversed and final judgement in favour of the Bank Decision Bank only has to deal with documents. Bank cannot be blamed for sticking to this, as otherwise it would be too easy to then blame the bank for potential issues. The bank has honoured drafts without verbatism in some cases, Rationale but has always received the authorisation of adastra first. Dissent Court Parties Issue...