Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

SOUTH AFRICAN RESERVE BANK v. M. SAMUEL & CO., LTD.

(1931) 39 Ll L Rep 87

KING'S BENCH DIVISION.

Before Mr. Justice Rowlatt.

Banking - Letter of credit - Anticipatory advances made by plaintiffs to X under letter of credit issued by defendants - Terms of letter of credit - Duty of plaintiffs accurately to conform with terms - Plaintiffs not liable for misapplication by X - Certificates tendered not in accordance with terms of letter of credit requiring warehouse certificates - Suggestion that no such certificates were issued as required by letter of credit-

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