Study Of The Legal Issues Of The Letter Of Credit Ban

Section Ⅰ The research on the elementary theory of the injunction. The generation, meaning, and the aim of giving the injunction are introduced and the legal characteristics of the injunction are also discussed. In order to make up the flaws of the movement mechanism of the letter of credit, each country developed the fraudulent exceptional principle to solve this kind of problems about the fraud on letter of credit in the judicature. Then the letter of credit injunction is necessary at the historic moment. The injunction was merely one relief method instead of the cause of action. The right of giving the injunction was not only the intrinsic right of the court, but also the right in the balance law, It only had the validity in personam. At the same time the main forms of the injunction in the fraud on letter of credit cases had been expounded and the Injunction, Attachment and the Freeze Order is distinguished. So the meaning and the characteristics of the injunction could be further understood.Section Ⅱ Research on the legislation of the letter of credit injunction. In this part, the legislation about the letter of credit injunction in the various countries is introduced. The questions about injunction of the fraud on letter of credit were stipulated clearly in the "Uniform Commercial Code of American" fifth chapter of 109th, and the fraudulent exceptional principle of England was still at the development phase. It did not have the uniform legislation. But the English court has adopted stricter manner compared with US to the fraud on letter of credit. Until now the civil law country did not have the technicality codified law about the letter of credit. They deal with the fraud on letter of credit cases according to the principle and stipulation of the respective civil law; the principle of the common law and balance law that gave the fraud on letter of credit by the injunction in the case law is introduced. Generally speaking, the courts in the various countries will not easily give the fraud on letter of credit by the injunctive relief. This happened only in the special situation as the extremely important exception.