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- Title
The Role of Attorney's Fees in Letter of Credit Litigation.
- Authors
Dolan, John F.
- Abstract
This article makes the case for mandatory attorneys fees in letter of credit ("LC") litigation in virtue of the fact that limiting such litigation is necessary to preserve the LC as a unique commercial bank product. It does not argue against granting fees to successful petitioners. It argues in favor offees for defendants when petitioners have availed themselves of the LC's benefits and seek to avoid the LC's burdens not as a matter of allocating rights under the LC but as an effort to avoid duties under it.
- Subjects
LETTERS of credit; DEFENDANTS; LINES of credit; GRANTS (Money); ATTORNEY &; client; UNIFORM Commercial Code
- Publication
Banking Law Journal, 2016, Vol 133, Issue 10, p555
- ISSN
0005-5506
- Publication type
Article