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Towards a more flexible approach to the fraud exception in letters of credit under South African law: a comparative analysis with select common law approaches and the UNCITRAL Convention
The aim of this dissertation is to recommend an alternative approach to the fraud exception in South African law. The Current South African position as with the English law, places more weight on upholding the sanctity of the autonomy principle in letters of credit than preventing fraud. This is mai...
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| Format: | Thesis |
| Language: | English |
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Department of Commercial Law
2015
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| _version_ | 1867613210421493760 |
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| access_status_str | Open Access |
| author | Ngoma, Wilson |
| author2 | Bradfield, Graham |
| author_browse | Bradfield, Graham Ngoma, Wilson |
| author_facet | Bradfield, Graham Ngoma, Wilson |
| author_sort | Ngoma, Wilson |
| collection | Thesis |
| description | The aim of this dissertation is to recommend an alternative approach to the fraud exception in South African law. The Current South African position as with the English law, places more weight on upholding the sanctity of the autonomy principle in letters of credit than preventing fraud. This is mainly because the courts have traditionally taken the view that protection of the autonomy principle is central to promoting the needs of trade and maintaining the integrity of the international banking community. Hence, this dissertation argues that an approach to the fraud exception in South African law that is more in line with that of the American law and/or the UNCITRAL Convention strikes a better balance in upholding the value of letters of credit and combatting fraud than the current South African position. Based on the comparative analysis of the position in the United Kingdom, United States of America and under the UNCITRAL Convention, the dissertation seeks to draw upon important lessons and principles pivotal to a preferable approach to the fraud exception in South African law that would enhance a better balance between the autonomy arguments and deterrence of fraud. |
| format | Thesis |
| id | oai:open.uct.ac.za:11427/15192 |
| institution | University of Cape Town (South Africa) |
| language | eng |
| last_indexed | 2026-06-10T12:32:31.718Z |
| license_str | Not specified — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UCTD — University of Cape Town Open Access Repository |
| publishDate | 2015 |
| publishDateRange | 2015 |
| publishDateSort | 2015 |
| publisher | Department of Commercial Law |
| publisherStr | Department of Commercial Law |
| record_format | dspace |
| source_str | UCTD — University of Cape Town Open Access Repository |
| spelling | oai:open.uct.ac.za:11427/15192 Towards a more flexible approach to the fraud exception in letters of credit under South African law: a comparative analysis with select common law approaches and the UNCITRAL Convention Ngoma, Wilson Bradfield, Graham Commercial Law The aim of this dissertation is to recommend an alternative approach to the fraud exception in South African law. The Current South African position as with the English law, places more weight on upholding the sanctity of the autonomy principle in letters of credit than preventing fraud. This is mainly because the courts have traditionally taken the view that protection of the autonomy principle is central to promoting the needs of trade and maintaining the integrity of the international banking community. Hence, this dissertation argues that an approach to the fraud exception in South African law that is more in line with that of the American law and/or the UNCITRAL Convention strikes a better balance in upholding the value of letters of credit and combatting fraud than the current South African position. Based on the comparative analysis of the position in the United Kingdom, United States of America and under the UNCITRAL Convention, the dissertation seeks to draw upon important lessons and principles pivotal to a preferable approach to the fraud exception in South African law that would enhance a better balance between the autonomy arguments and deterrence of fraud. 2015-11-21T09:38:03Z 2015-11-21T09:38:03Z 2015 Master Thesis Masters LLM http://hdl.handle.net/11427/15192 eng application/pdf Department of Commercial Law Faculty of Law University of Cape Town |
| spellingShingle | Commercial Law Ngoma, Wilson Towards a more flexible approach to the fraud exception in letters of credit under South African law: a comparative analysis with select common law approaches and the UNCITRAL Convention |
| thesis_degree_str | Master's |
| title | Towards a more flexible approach to the fraud exception in letters of credit under South African law: a comparative analysis with select common law approaches and the UNCITRAL Convention |
| title_full | Towards a more flexible approach to the fraud exception in letters of credit under South African law: a comparative analysis with select common law approaches and the UNCITRAL Convention |
| title_fullStr | Towards a more flexible approach to the fraud exception in letters of credit under South African law: a comparative analysis with select common law approaches and the UNCITRAL Convention |
| title_full_unstemmed | Towards a more flexible approach to the fraud exception in letters of credit under South African law: a comparative analysis with select common law approaches and the UNCITRAL Convention |
| title_short | Towards a more flexible approach to the fraud exception in letters of credit under South African law: a comparative analysis with select common law approaches and the UNCITRAL Convention |
| title_sort | towards a more flexible approach to the fraud exception in letters of credit under south african law a comparative analysis with select common law approaches and the uncitral convention |
| topic | Commercial Law |
| url | http://hdl.handle.net/11427/15192 |
| work_keys_str_mv | AT ngomawilson towardsamoreflexibleapproachtothefraudexceptioninlettersofcreditundersouthafricanlawacomparativeanalysiswithselectcommonlawapproachesandtheuncitralconvention |