WESTMINSTER BANK v. BANCA NAZIONALE DI CREDITO AND OTHERS.

(1928) 31 Ll.L.Rep. 306

KING'S BENCH DIVISION.

Before Mr. Justice Roche.

Banking-Sale of goods-Opening of credit by foreign buyers in favour of sellers (second defendants)-Mandate given by foreign bank (first defendants) (buyers' bankers) to English bank (plaintiffs)- Liability of foreign bank upon mandate or of sellers upon indemnity-Terms of credit - Acceptance against full sets of bills of lading - Bills of exchange presented to plaintiff bank by sellers for acceptance against documents - Full sets of bills of lading not presented-Bills of exchange accepted by plaintiff bank upon indemnity given by sellers-Construction of indemnity -Implied right of bank to refuse tender of bills of lading unless clean- Goods taken up by buyers (by arrangement with sellers) without bills of lading-Ordinary course of business- Ratification-Judgment for plaintiffs upon indemnity.