Law of Pledges, Guarantees and Letters of Credit, 5th Edition

Law of Pledges, Guarantees and Letters of Credit, 5th Edition

This updated publication examines the notable advancements in the legal aspects of pledges, guarantees, and letters of credit since the last edition in August 1998, including the emergence of the principle of unconscionability. It begins by presenting an overview of the current state of the law, followed by a thorough exploration of the guiding principles in this field.

Similar to its predecessor, the author maintains a lucid and precise style in discussing the principles established in relevant cases. Extracts from judgments are provided to enhance comprehension of the legal principles involved. This text serves as a definitive resource for professionals in the banking sector.

Key features include:

- Incorporation of legal developments since the previous edition in August 1998.
- Inclusion of new cases and those previously unaddressed, strengthening the text.
- Examination and analysis of the recently enacted Contracts (Rights of Third Parties) Act (Cap 53B).
- Discussion of the evolving principle of unconscionability as a basis, alongside fraud, for restraining a beneficiary from invoking payment under a performance bond or guarantee.
- Coverage of new developments in letters of credit, including documents generated by photocopiers and computers, as well as the tort liability of individuals creating documents for presentation under letters of credit.

Table of Contents of Law of Pledges, Guarantees and Letters of Credit, 5th Edition:

· Chapter 1: Pledges
· Chapter 3: Life Assurance Policies as Security
· Chapter 3: Legal Nature of a Guarantee
· Chapter 4: Consideration for a Guarantee
· Chapter 5: Vitiating Factors in a Guarantee
· Chapter 6: Undue Influence
· Chapter 7: Matters Affecting Guarantor’s Interests
· Chapter 8: Joint and Several Guarantee
· Chapter 9: Some Common Terms in Guarantees
· Chapter 10: Enforcement of Guarantee
· Chapter 11: Guarantor and Creditor
· Chapter 12: Security Provided by Principal Debtor
· Chapter 13: Guarantor and Principal Debtor
· Chapter 14: Rights Between Guarantors
· Chapter 15: Performance Bonds
· Chapter 16: Letters of Credit
· Chapter 17: Buyer and Seller
· Chapter 18: Buyer and the Issuing Bank
· Chapter 19: Seller and the Intermediary Bank
· Chapter 20: Issuing and Intermediary Banks
· Chapter 21: Tender of Documents

About The Author of Law of Pledges, Guarantees and Letters of Credit, 5th Edition: 

Dr. Poh Chu Chai, an Associate Professor at the National University of Singapore, specializes in Banking and Insurance laws in his research. His initial publication, "Law of Negotiable Instruments," debuted in 1984.

LexisNexis has had the honor of publishing several of the author's highly regarded works, including "Motor and Work Injury Insurance," "General Insurance Law," "Guarantee and Performance Bonds," "Banking Law," and "Principles of Insurance Law."

The author's books have been referenced in over 94 judicial decisions in both Singapore and Malaysia, spanning from the Court of Appeal to the Malaysian Federal Court.