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Introduction: Early and Contemporary History of Letter of Credit Rules Under this heading we will make the comparative analysis of changes between a present version of ICC Uniform Customs and [...]

One of the most difficult aspects of studying law is coping with legal terminology of understanding the different ways in which terms can be used, as for example, the term common law. The term [...]

The difference between a legal system that is based on common law and that is based on civil law, as mentioned, is largely one of approach. Under a common law system the law develops [...]

Among the main legal systems of the world, English Common Law is the most widespread in the context such indicators as jurisdiction and world population, before the Napoleonic Law, the mixed [...]

Law is not separate from the culture, history and times in which it exists. The study of law is not limited to learning legal rules. The study of law is the study of a people, a civilization, as [...]

There are currently three major sets of rules governing credit transactions, all of which have been adopted by the International Chamber of Commerce (ICC): Uniform Customs and Practice for [...]

Although documentary credits are enforceable once communicated to the beneficiary, it is difficult to show any consideration given by the beneficiary to the banker prior to the tender of [...]

A commercial letter of credit is a contractual agreement between a bank, known as the issuing bank, on behalf of one of its customers, authorizing another bank, known as the advising or [...]