Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

JAKS (UK) LTD. v. CERA INVESTMENT BANK S.A.

[1998] 2 Lloyd's Rep. 89

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Justice Moore-Bick

Banking - Letter of credit - Repudiation - Contract for sale of coffee - Payment by letter of credit - Telex from defendants cancelling letter of credit and requesting beneficiaries consent to cancellation - Whether defendants repudiated contract - Whether defendants withdrew renunciation before plaintiffs purported to accept it - Whether plaintiffs accepted repudiation.

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