14 Oct 1985
UDHARAM RUPCHAND SONS (HK) LTD. t/a FAR EAST CONFIRMERS v. MERCHANTILE BANK LTD
- Citation
- UDHARAM RUPCHAND SONS (HK) LTD. t/a FAR EAST CONFIRMERS v. MERCHANTILE BANK LTD
- Court
- Court of Appeal
- Case number
- CACV64/1985
The telexed credits, read as a whole, were straight credits limited to negotiation by the advising bank (Hongkong & Shanghai Banking Corp., Bangkok); Mercantile Bank failed to prove the Thai banks negotiated the credits and/or examined documents with reasonable care, and therefore Mercantile Bank was not entitled to reimburse the Thai banks and debit Confirmers' account; appeal dismissed and trial judgment affirmed.