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Free Legal Advice Philippines » GENERAL PRINCIPLES, UPDATES » LEGAL MATTERS, GEN PRINCIPLES, DOCTRINES, UPDATES » Commercial Law » Code of Commerce » INDEPENDENCE PRINCIPLE

INDEPENDENCE PRINCIPLE

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1INDEPENDENCE PRINCIPLE Empty INDEPENDENCE PRINCIPLE Sat Sep 20, 2008 11:36 pm

barrister

barrister
Reclusion Perpetua

INDEPENDENCE PRINCIPLE – in a letter of credit transaction means that a bank, in determining
compliance with the terms of a letter of credit is required to examine only the shipping documents
presented by the seller and is precluded from determining whether or not the main contract is
actually accomplished or not.

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Free Legal Advice Philippines » GENERAL PRINCIPLES, UPDATES » LEGAL MATTERS, GEN PRINCIPLES, DOCTRINES, UPDATES » Commercial Law » Code of Commerce » INDEPENDENCE PRINCIPLE

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