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Consumer Law
C/L/433. Letters of Credit
- WORDS:
- 2000
- DATE:
- 2009
- PRICE:
- 29.99 GBP
The paper advises hypothetical parties regarding their contractual right and remedies. The transactions they have made fall under the terms of a CIF (cost, insurance, freight) contract because they are agreements for the sale of goods performed by delivery of documents or a sale representing goods with the seller having obligations regarding both the goods and their documents that the buyer must also reciprocate. The importance of a bill of lading is considered discussing the relation between contracts for the carriage of goods and letters of credit and how matters of fraud must be dealt with in this context.
KEYWORDS: Carriage of goods by sea, law, Letters of Credit, international trade, CIF, freight, insurance,
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