Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

UZINTERIMPEX JSC v STANDARD BANK PLC

[2008] 2 Lloyd's Rep. 456

COURT OF APPEAL

Before Sir Anthony Clarke MR, Lord Justice Laws and Lord Justice Moore-Bick

Banking - International trade - Letters of credit - UCP 458 - Advance payment guarantee - Tender of documents - Sale contract - FOB terms - Bank making demand under guarantee following dispute between buyer and seller - Whether guarantee subject to implied term precluding excessive demand - Whether bank guilty of knowing assistance - Whether goods had been converted - Whether duty to mitigate loss applied to conversion - Torts (Interference with Goods) Act 1977.

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