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TITLE | [Loan]Supreme Court Decision 2001Da69771 Delivered on September 24, 2004 [full Text] |
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Summary | |
Whether the principle of trust and good faith applies to the legal relation between the standby letter of credit applicant and the issuing bank (affirmative), and the case where the standby letter of credit applicant can be deemed to approve beforehand the issuing bank's defective payment of the letter of credit amount, or the exercise of the applicant's rights may be restricted after the fact |