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dc.contributor.authorKelly-Louw, Michelle
dc.date.accessioned2023-04-28T11:13:00Z
dc.date.available2023-04-28T11:13:00Z
dc.date.issued2022
dc.identifier.citationKelly-Louw, M. 2022. "Beneficiary Fraud and Demand Guarantees". PER / PELJ 2022(25) - DOI http://dx.doi.org/10.17159/1727-3781/2022/v25i0a14062. [http://www.nwu.ac.za/p-per/index.html]en_US
dc.identifier.issn1727-3781
dc.identifier.urihttp://hdl.handle.net/10394/41069
dc.identifier.urihttp://dx.doi.org/10.17159/1727-3781/2022/v25i0a14062
dc.description.abstractIt is settled in South African and English law that for the fraud exception to apply to demand guarantees or letters of credit the fraud must have been committed by the beneficiary (or his agent with the beneficiary's knowledge) and not by a third party. Even where the fraud relates to a forgery or materially fraudulent document, the fraud must have been committed by the beneficiary for the exception to apply. This is in contrast with American law, where the fraud relating to forgeries and materially fraudulent documents does not necessarily have to be committed by the beneficiary. This contribution considers the law in this regard in these three jurisdictions.en_US
dc.languageEnglish
dc.language.isoenen_US
dc.publisherPER/PELJen_US
dc.subjectDemand guaranteeen_US
dc.subjectLetter of crediten_US
dc.subjectFrauden_US
dc.subjectForgeryen_US
dc.subjectMaterially fraudulenten_US
dc.subjectThird party frauden_US
dc.subjectInterdict/injunctionen_US
dc.subjectIndependence principleen_US
dc.titleBeneficiary Fraud and Demand Guaranteesen_US
dc.typeArticleen_US


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