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- Title
Letters of Credit.
- Authors
Barnes, James G.; Klein, Carter
- Abstract
The article discusses court cases on letters of credit under the Uniform Commercial Code (UCC). In Natixis Funding Corp. v. GenOn Mid-Atlantic LLC, the court ruled no mutual mistake or fraudulent taking advantage of mistake. In El Ad US Holding Group Inc. v. American International Group Inc., injunctive relief was denied to prevent beneficiaries from drawing a letter of credit. In ADA-ES Inc. v. Big Rivers Electric Corp., it was ruled that Big Rivers had no right to withhold contract payments.
- Subjects
LETTERS of credit; UNIFORM Commercial Code; MISTAKE (Contracts); BENEFICIARIES; CONTRACTS; GENON Mid-Atlantic LLC; AMERICAN International Group Inc.; ADA-ES Inc.
- Publication
Business Lawyer, 2021, Vol 76, Issue 4, p1355
- ISSN
0007-6899
- Publication type
Article