Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

JEBARA v. IMPERIAL OTTOMAN BANK.

(1928) 31 Ll.L.Rep. 37

HOUSE OF LORDS.

Before Viscount Dunedin, Lord Shaw, Lord Phillimore, Lord Carson and Lord Blanesburgh.

Banking-Sale of goods-Goods purchased by plaintiff for correspondents abroad -Bills of exchange drawn on correspondents in sterling-"Please pay to our order value cheque on London the sum of £...... sterling" - Effect - Advances made by bank in England- Bills and shipping documents sent to foreign branch of bank for collection- Payment by correspondents to foreign branch of sum in piastres to raise sterling credit in England sufficient to meet bills-Intervention of war-Interruption of communication between foreign branch and branch in England -Currency depreciation-Account-Rate of exchange - Conversion - Agents of necessity-Treaty of Lausanne, Art. 84 -Whether collection "in a currency other than that mentioned in the contract."

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