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TITLE Supreme Court Decision 2014Da40237 Decided on January 29, 2015 ¡¼Damages, etc.¡½ [full Text]
Summary
In case where a person in charge of preparing and issuing the air waybill for the transport of export goods in relation to an international transaction involving the issuance of a letter of credit (¡°L/C¡±) prepares and issues the air waybill in such a way that each of the original part of the air waybill carries different contents, thereby rendering a local bank ¡ª which, in reliance on the contents of the original part of the air waybill for the consignor, purchased documents, including the export draft and the air waybill ¡ª unable to exercise its right to collateral assignment on the export goods when the payment of the export draft is rejected by the L/C issuer bank, whether that person is liable for the damages for the losses incurred thereby (affirmative)
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