for the purchase. Every-Style applied to a UK bank for the opening of a letter of credit in favour of Sale-items. The letter of credit contained, inter alia, the following terms: Presentation of an air waybill showing the flight number, the date and the German company being the recipient of the consignment; and The latest date of the shipment was 30 June 2015. Sale-items negotiated the letter of credit with a Hong Kong bank. The Hong Kong bank claimed reimbursement from the issuing bank. The day after the claim for reimbursement was sent to the issuing bank, and before any reimbursement was made, the German retailer went into liquidation, and the UK parent approached the issuing bank with a request for it to refuse payment under the credit The UK firm Every-Style, has discovered that the copy of the air waybill sent to the German retailer was dated 2 July 2015 but the copy of the air waybill presented to the banks for negotiating the letter of credit was dated 30 June 2015. There is also evidence that the negotiating bank was probably aware of this discrepancy, and suspected that the Hong Kong beneficiary may have altered the date on the air waybill presented for the purposes of negotiation. However, the negotiating bank decided not to look too closely, and in effect turned a blind eye to the possibility of fraud. Is the seller entitled to be paid? Question [25] Elliot Bay Bookstore, Seattle ("Elliot Bay"), a US-based retailer, sold 1000 books to Riverside Books ("Riverside"), a Brisbane-based retailer. Following the terms of the contract of sale, Riverside opened a letter of credit through its bank, Westpac Bank, in favour of Elliot Bay for US$ 50,000. The contract stated that the letter of credit was to be confirmed through Elliot Bay's bank, the Bank of America. Elliot Bay exported the goods and then presented the necessary documents to the Bank of America on Friday 14 January 2015. The Bank of America accepted the documents and deposited US$ 50,000 into Elliot Bay's account. The Bank of America then forwarded the documents to Westpac on Monday 17 January 2015. On 20 January 2015, Westpac contacts you urgently. It seeks your advice as to whether it can refuse to pay under the letter of credit on any of the following grounds. a) The insurance contract describes the goods as "novels", while the description in the letter of credit is "novels by JK Rowling". b) The bill of lading notes "several books tom and strained"