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Abstracts prior to volume 5(1) have been archived!

Issue 5(1), October 2010 -- Paper Abstracts
Girard  (p. 9-22)
Cooper (p. 23-32)
Kunz-Osborne (p. 33-41)
Coulmas-Law (p.42-46)
Stasio (p. 47-56)
Albert-Valette-Florence (p.57-63)
Zhang-Rauch (p. 64-70)
Alam-Yasin (p. 71-78)
Mattare-Monahan-Shah (p. 79-94)
Nonis-Hudson-Hunt (p. 95-106) 



JOURNAL OF ACCOUNTING AND FINANCE 


Piercing the Autonomy in Payment Undertakings: Fraud and Others?


Author(s): Eliza Zhangminmin Xue

Citation: Eliza Zhangminmin Xue, (2020) "Piercing the Autonomy in Payment Undertakings: Fraud and Others?," Journal of Accounting and Finance, Vol. 20, ss. 8, pp. 122-127

Article Type: Research paper

Publisher: North American Business Press

Abstract:

This article reviews and challenges the position taken in the current English law in documentary payment undertakings that autonomy stands as a cardinal rule and fraud as the only exception. While admitting that the autonomy principle which secures a smooth, speedy and dependable documentary payment remains the backbone of the international financing system, it submits that it would adversely affect the integrity of law in a broader sense if such justifiable grounds of exception as illegality, nullity and unconscionability are entirely disregarded. It is necessarily beneficial to the international trade and the instrumental payment system as a whole if a principled and incremental approach would be adopted by courts when weighing the strength of justification for each individual new ground, rather than shutting a blind eye to their potential merits.