Legal Jurisprudence Review of the Type of Civil Liability in Letter of Credit

Subject Areas : Political and International Researches Quarterly

Received: 2020-12-20 Accepted : 2020-12-20 Published : 2021-02-19

Keywords: Civil liability, Letters of Credit, Contractual, Forced,

Abstract :

Ehsan moshkelgosha [1] Masood reza ranjbar *[2] Mostafa mandegar[3] Reza zaree[4]   Abstract Today, the payment of prices in international trade is done with letters of credit. Examining the status of this type of payment method and its compliance with jurisprudential and legal institutions shows the importance of the issue of civil liability around letters of credit. Our rights are largely derived from jurisprudence. In some cases, in line with European law, there is a tendency towards financial compensation, but in jurisprudence, there is a tendency towards objective compensation. The question is what kind of civil liability is in documentary credit? To fulfill civil liability, the harmful act in coercive guarantee and breach of contract are considered. Due to the absence of a contract between the beneficiary and the bank, the non-contractual beneficiary and other responsibilities are subject to the rules of contractual liability and the principles governing letters of credit. The present study is conducted by descriptive-analytical method. [1] -PhD student in Private law, Department of Private law, Shiraz Branch, Islamic Azad University, Shiraz, Iran, [e-mail] [2] - Assistant Professor Department of Private law, Shiraz Branch, Islamic Azad University, Shiraz, Iran, Corresponding Author, [e-mail] [3] - Assistant Professor Department of Private law, Shiraz Branch, Islamic Azad University, Shiraz, Iran, [e-mail] [4] - Assistant Professor Department of Private law, Shiraz Branch, Islamic Azad University, Shiraz, Iran, [e-mail]