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dc.contributor.authorScott, Struan
dc.date.available2019-03-22T02:53:45Z
dc.date.copyright1994
dc.identifier.citationScott, SR, Comfort Letters - Let the Issuer be aware! Journal of Banking and Finance Law and Practice 5: 197-202 (1994).en_NZ
dc.identifier.urihttp://hdl.handle.net/10523/9143
dc.description.abstractComfort letters are controversial. They are usually the result of a compromise. The issuer, while wishing to ensure that the recipient will participate in the implementation of the underlying transaction (commonly a loan to a subsidiary of the issuer), seeks to avoid legal liability. The recipient, however, seeks as much assurance as it can get that the underlying transaction will be performed. So, what are the legal consequences arising from this compromise? This article challenges the assumption that an issuer faces either contractual liability as if it had given a guarantee, or no contractual liability at all. It is suggested that, while an issuer may successfully avoid giving a guarantee, the undertaking may nevertheless give rise to some contractual liability.en_NZ
dc.format.mimetypeapplication/pdf
dc.language.isoenen_NZ
dc.publisherThomson Reutersen_NZ
dc.relation.ispartofJournal of Banking and Finance Law and Practiceen_NZ
dc.subjectBanking and Finance Lawen_NZ
dc.subjectContract Lawen_NZ
dc.subjectContractual Liabilityen_NZ
dc.titleComfort Letters - Let the Issuer Be Aware!en_NZ
dc.typeJournal Articleen_NZ
dc.date.updated2019-03-22T02:12:43Z
otago.schoolUniversity of Otago Faculty of Lawen_NZ
otago.relation.volume5en_NZ
otago.bitstream.endpage202en_NZ
otago.bitstream.startpage197en_NZ
otago.openaccessOpenen_NZ
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