Letters of Credit
Nature of letter of credit4.
Parties to a letter of credita. Rights and obligations of parties5.
Basic Principles of letter of credita. Doctrine of independenceb. Fraud exception principlec. Doctrine of strict complianceB.
Warehouse Receipts Law
1. Nature and Functions of a Warehouse Receipta. To whom deliveredb. Kindsc. Distinction between a Negotiable Instrument and a NegotiableWarehouse Receiptd. Rights of a holder of a negotiable warehouse receipt as againsta transferee of a non-negotiable warehouse receipt2. Duties of a Warehouseman3. Warehouseman’s Lien
Trust Receipts Law
1. Definition/Concept of a Trust Receipt Transactiona. Loan/security featureb. Ownership of the goods, documents and instruments under atrust receipt2. Rights of the Entrustera. Validity of the security interest as against the creditors of theentrustee/innocent purchasers for value3. Obligations and Liability of the Entrusteea. Payment/Delivery of proceeds of sale or disposition of goods,documents or instruments