The seller of goods has a right to proceed judicially against an issuing bank that dishonors its… 1 answer below »

The seller of goods has a right to proceed judicially against an issuing bank that dishonors its obligation under an irrevocable letter of credit, just as the seller has the right to proceed directly against the buyer. Should the issuing bank also be liable for consequential damages that are reasonably foreseeable? See Hadley v. Baxendale [1854] 9 Ex. 341.

 

 

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