Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

MIDLAND BANK, LTD. v. SEYMOUR.

[1955] 2 Lloyd's Rep. 147

QUEEN'S BENCH DIVISION.

Before Mr. Justice Devlin.

Banking-Documentary credits-Instructions to bank-Ambiguity-Credit to be made available "against delivery of the following documents . . . evidencing shipment"-Full particulars not contained in bill of lading but contained in set of documents tendered -Authority of bank to pay-Duty of care owed by bank to customer-Alleged negligent omission by bank to pass on information received affecting transaction.

-Presentation of drafts-Acceptance in London after expiration of credit-"Credit is to be available at Hongkong"-Credit negotiated in Hongkong before expiry date -Meaning of "available at Hongkong."

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