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Free Legal Advice Philippines » GENERAL PRINCIPLES, UPDATES » LEGAL MATTERS, GEN PRINCIPLES, DOCTRINES, UPDATES » Commercial Law » Trust Receipts Law » NATURE OF THE TRUST RECEIPT AGREEMENT

NATURE OF THE TRUST RECEIPT AGREEMENT

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1NATURE OF THE TRUST RECEIPT AGREEMENT Empty NATURE OF THE TRUST RECEIPT AGREEMENT Sun Sep 21, 2008 12:03 am

barrister

barrister
Reclusion Perpetua

1. A trust receipt agreement is merely a collateral agreement, the purpose of which is
to serve as security for a loan.
2. In relation to a letter of credit, a letter of credit is a separate document from a trust receipt.
While the trust receipt may have been executed as a security on the letter of credit,
still the two documents involve different undertakings and obligations

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Free Legal Advice Philippines » GENERAL PRINCIPLES, UPDATES » LEGAL MATTERS, GEN PRINCIPLES, DOCTRINES, UPDATES » Commercial Law » Trust Receipts Law » NATURE OF THE TRUST RECEIPT AGREEMENT

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