Show simple item record  

dc.contributor.authorLiao, Zhixiongen_NZ
dc.date.accessioned2016-11-28T02:06:04Z
dc.date.available2016-10-31en_NZ
dc.date.available2016-11-28T02:06:04Z
dc.date.issued2016en_NZ
dc.identifier.citationLiao, Z. (2016). Illegality in the Underlying Transaction: A Defence to Dishonouring Letters of Credit? Waikato Law Review, 23, 34–55.en
dc.identifier.issn1172-9597en_NZ
dc.identifier.urihttps://hdl.handle.net/10289/10757
dc.description.abstractThis paper raises doubts over the seemingly prevailing view that illegality in the underlying contract for international trade should be accepted as an exception to the autonomy principle of documentary letters of credit. Contrary to the seemingly prevailing view, this paper argues that there are logical flaws in the “illegality exception” arguments. It suggests that where commercial documentary letters of credit for international trade are involved, the “illegality exception” would much less likely than expected to be accepted, especially in most common law jurisdictions. It also submits that the public policy concerns over letter of credit being used to facilitate illegal transactions could be better addressed by public law such as specific statutory provisions rather than by an ill-founded and loosely formulated “illegality in the underlying contract defence” in private law.en_NZ
dc.format.mimetypeapplication/pdf
dc.language.isoenen_NZ
dc.publisherFaculty of Law, University of Waikatoen_NZ
dc.relation.urihttp://www.nzlii.org/nz/journals/WkoLawRw/en_NZ
dc.rightsThis article is published in the journal: Waikato Law Review: Taumauri. Used with permission.
dc.subjectIllegal underlying transactionen_NZ
dc.subjectexception to autonomy principleen_NZ
dc.subjectletter of crediten_NZ
dc.titleIllegality in the Underlying Transaction: A Defence to Dishonouring Letters of Credit?en_NZ
dc.typeJournal Article
dc.relation.isPartOfWaikato Law Reviewen_NZ
pubs.begin-page34
pubs.elements-id143535
pubs.end-page55
pubs.publication-statusPublisheden_NZ
pubs.publisher-urlhttp://www.nzlii.org/nz/journals/WkoLawRw/en_NZ
pubs.volume23en_NZ


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record