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In the Courtaulds v. North Carolina National Bank and Semetex Corp v. UBAF Arab American Bank, the U.S. courts examined the discrepancies between the letters
In the Courtaulds v. North Carolina National Bank and Semetex Corp v. UBAF Arab American Bank, the U.S. courts examined the discrepancies between the letters of credit, commercial invoices and other documentation in making their rulings on the liabilities of these banks to honor their letters of credit.Why was UBAF liable to honor its letter of credit and North Carolina not? Provide three examples of common discrepancies found in letters of credit documentation.
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