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Copyright © International Chamber of Commerce (ICC). All rights reserved. ( Source of the document: ICC Digital Library )
1999 LC CASE SUMMARIES 684 N.Y.S.2d 214 (App. Div. 1999) [U.S.A.]
Topics:
Article
Illegality; Anticipatory Dishonor
Note:
Action by beneficiary against issuer for wrongful dishonor was properly dismissed because honor was prohibited by U.S. government asset freeze under 50 U.S.C.A. Section 1702(a)(3) then in effect. Claim for anticipatory dishonor once freeze is lifted was without merit in the absence of allegations or proof that assurances of future honor was demanded.
©2000 INSTITUTE OF INTERNATIONAL BANKING LAW & PRACTICE
COPYRIGHT OF THE INSTITUTE OF INTERNATIONAL BANKING LAW & PRACTICE
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