US UCC Article 5’s Non-Variable Provisions
How UCC Article 5 governs letters of credit in the US, its non-variable provisions, and the legal nuances that affect issuers and beneficiaries.
A man accused of willfully causing EUR 2.37 million in financial loss to Ghana by having letters of credit established without authorization for vehicles purporting to be ambulances has lost his challenge before the Court of Appeal (Accra) that charges against him were defective.
Lawyers for the accused, Dr. Cassiel Ato Forson, contended that the High Court judge erred in holding that the particulars of offences contained sufficient information on the specific acts engaged in by the accused that manifest “without due cause and authorization” as contained in the charge sheet.
Sign up to receive occasional DCW emails highlighting content