Fraud Exception Rule
Category: Credit Transactions
What is the exception to the independence principle?
The “Fraud exception rule.” It provides that the untruthfulness of a certificate accompanying a demand for payment under a standby letter of credit may qualify as fraud sufficient to support an injunction against payment. (Transfield v. Luzon Hydro, G.R. No. 146717, Nov. 22, 2004)
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Newer Philippine Law Resources:
Additional Law Reading:
Fraud Exception Rule
Category: Credit Transactions
What is the exception to the independence principle?
The “Fraud exception rule.” It provides that the untruthfulness of a certificate accompanying a demand for payment under a standby letter of credit may qualify as fraud sufficient to support an injunction against payment. (Transfield v. Luzon Hydro, G.R. No. 146717, Nov. 22, 2004)
Related Philippine Law Resources:
Newer Philippine Law Resources:
Additional Law Reading:
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