Simic & Ors v. NSW Land and Housing Corporation & Ors

Lower Court Judgment

18/12/2015 Supreme Court of New South Wales (Court of Appeal) (Bathurst CJ, Ward JA, Emmett AJA)

[2015] NSWCA 413

Catchwords

Contract – Letters of credit – Whether a misdescription of the beneficiary of a bank guarantee entitled the bank to refuse to pay out the credit – Whether regard could be had to the underlying contract to confirm the correct description of the beneficiary – Autonomy principle – Principle of strict compliance.

Short Particulars