Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

UNITED CITY MERCHANTS (INVESTMENTS) LTD. AND GLASS FIBRES AND EQUIPMENTS LTD. v. ROYAL BANK OF CANADA, VITROREFUERZOS S.A. AND BANCO CONTINENTAL S.A.

[1981] 1 Lloyd's Rep. 604

COURT OF APPEAL

Before Lord Justice Stephenson, Lord Justice Ackner and Lord Justice Griffiths

Banking - Letter of credit - Illegality - Whether letter of credit in breach of Peruvian exchange control regulations - Whether letter of credit enforceable - Bretton Woods Agreement Order in Council, 1946. Banking - Letter of credit - Bill of lading - Date on bill of lading altered - Whether allegation of fraud made out - Whether letter of credit amended - Whether defendants entitled to refuse payments against document presented.

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