Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

BACHE & CO. (LONDON) LTD. v. BANQUE VERNES ET COMMERCIALE DE PARIS S.A.

[1973] 2 Lloyd's Rep. 437

COURT OF APPEAL

Before Lord Denning, M.R., Lord Justice Megaw and Lord Justice Scarman

Banking - Guarantee - Conclusive evidence clause - Transactions between English brokers and French trading company - Liability of trading company guaranteed by its bank - Notice of default to be "conclusive evidence" - Whether bank liable under guarantee - Allegation by bank mat accounts were erroneous - Whether conclusive evidence clause contrary to public policy.

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