Basic legal analysis of the letter of credit in Serbian law
In the law of the Republic of Serbia, there is special regulation on the letter of credit. However, certain legal problems still exist. The main problems are: the lack of a more complete legal definition of the letter of credit; using the same terms in different contexts with different meanings; und...
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| Format: | Article |
| Language: | English |
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Faculty of Law, Niš
2019-01-01
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| Series: | Zbornik Radova Pravnog Fakulteta u Nišu |
| Subjects: | |
| Online Access: | https://scindeks-clanci.ceon.rs/data/pdf/0350-8501/2019/0350-85011982283H.pdf |
| _version_ | 1818987206647218176 |
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| author | Hajduk Vojnić Mario |
| author_facet | Hajduk Vojnić Mario |
| author_sort | Hajduk Vojnić Mario |
| collection | DOAJ |
| description | In the law of the Republic of Serbia, there is special regulation on the letter of credit. However, certain legal problems still exist. The main problems are: the lack of a more complete legal definition of the letter of credit; using the same terms in different contexts with different meanings; undeveloped regulation on the notification on the opening of a letter of credit; and the issue whether the basic legal relations in the letter of credit are independent relations. This paper examines the basic issues and the institutes of the letter of credit. The starting position is that any legal transaction involving a letter of credit, content-wise, entails the same obligation to pay out the amount specified in the letter of credit, that the basic legal relations in the letter of credit are interdependent relations, and that the legal nature of the letter of credit is unique. The paper also points to the problems encountered in different conceptions on the basic issues pertaining to the letter of credit. |
| first_indexed | 2024-12-20T19:03:00Z |
| format | Article |
| id | doaj.art-d38b4f8f49eb45c38eefb4b7c3bb50bd |
| institution | Directory Open Access Journal |
| issn | 0350-8501 2560-3116 |
| language | English |
| last_indexed | 2024-12-20T19:03:00Z |
| publishDate | 2019-01-01 |
| publisher | Faculty of Law, Niš |
| record_format | Article |
| series | Zbornik Radova Pravnog Fakulteta u Nišu |
| spelling | doaj.art-d38b4f8f49eb45c38eefb4b7c3bb50bd2022-12-21T19:29:21ZengFaculty of Law, NišZbornik Radova Pravnog Fakulteta u Nišu0350-85012560-31162019-01-0158822833040350-85011982283HBasic legal analysis of the letter of credit in Serbian lawHajduk Vojnić Mario0Univerzitet u Novom Sadu, Pravni fakultetIn the law of the Republic of Serbia, there is special regulation on the letter of credit. However, certain legal problems still exist. The main problems are: the lack of a more complete legal definition of the letter of credit; using the same terms in different contexts with different meanings; undeveloped regulation on the notification on the opening of a letter of credit; and the issue whether the basic legal relations in the letter of credit are independent relations. This paper examines the basic issues and the institutes of the letter of credit. The starting position is that any legal transaction involving a letter of credit, content-wise, entails the same obligation to pay out the amount specified in the letter of credit, that the basic legal relations in the letter of credit are interdependent relations, and that the legal nature of the letter of credit is unique. The paper also points to the problems encountered in different conceptions on the basic issues pertaining to the letter of credit.https://scindeks-clanci.ceon.rs/data/pdf/0350-8501/2019/0350-85011982283H.pdfcontract on opening a letter of creditnotification on opening a letter of creditlegal relationslegal natureletter of creditbanking service |
| spellingShingle | Hajduk Vojnić Mario Basic legal analysis of the letter of credit in Serbian law Zbornik Radova Pravnog Fakulteta u Nišu contract on opening a letter of credit notification on opening a letter of credit legal relations legal nature letter of credit banking service |
| title | Basic legal analysis of the letter of credit in Serbian law |
| title_full | Basic legal analysis of the letter of credit in Serbian law |
| title_fullStr | Basic legal analysis of the letter of credit in Serbian law |
| title_full_unstemmed | Basic legal analysis of the letter of credit in Serbian law |
| title_short | Basic legal analysis of the letter of credit in Serbian law |
| title_sort | basic legal analysis of the letter of credit in serbian law |
| topic | contract on opening a letter of credit notification on opening a letter of credit legal relations legal nature letter of credit banking service |
| url | https://scindeks-clanci.ceon.rs/data/pdf/0350-8501/2019/0350-85011982283H.pdf |
| work_keys_str_mv | AT hajdukvojnicmario basiclegalanalysisoftheletterofcreditinserbianlaw |