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Vol 23 No 5 May/June 2018

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Cover of Drafting Commercial Agreements

Drafting Commercial Agreements

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Goode on Payment Obligations in Commercial and Financial Transactions 3rd ed

Edited by: Charles Proctor, Victoria Dixon

ISBN13: 9780414046597
New Edition ISBN: 9780414067974
Previous Edition ISBN: 9780421402805
Published: October 2016
Publisher: Sweet & Maxwell Ltd
Country of Publication: UK
Format: Hardback
Price: £179.00

In stock.

This work provides a penetrating analysis of the legal principles underlying payment obligations in financial transactions. It helps practitioners understand the often obscure concepts on which disputes arising from modern payment systems frequently turn and to use them on their clients' behalf.

It analyses the concepts of money, payment and obligation to pay; the right to payment; stipulations as to time; interest; the legal implications of inter-bank transfers, and foreign money obligations. Recent case law is analysed in the light of these fundamental principles.

  • Offers new insights into familiar problems by rigorous analysis of underlying legal principles
  • Considers a wide variety of topics, from the definition of money and payment through to international inter-bank transfers and foreign money obligations
  • Provides robust views on complex but important areas, such as compound interest, payment to an agent, recovery of exchange rate losses and foreign illegality
  • Looks at the introduction of e-money and payment by card
  • Supplies materials from Commonwealth jurisdictions and the US, giving a comparative approach to problems that are international in character
  • Discusses case law in depth
  • Examines procedures which a bank must adopt to comply with anti-money laundering legislation without exposing itself to claims from customers
  • Considers sanctions legislation, particularly the extra-territorial aspects of the US Patriot Act for foreign banks

Commercial Law
Part I: The Concepts of Money, Payments and Obligation to Pay
1, Money
2, Payment
3, Categories of Payment Obligation

Part II: The Right to Payment and the Defences to a Payment Claim
1, The Right to Payment
2, Defences to a Liquidated Claim
3, Remedies for Non-Payment
4, The Recovery of Payments Made

Part III: Stipulations as to Time: Interest
1, The Significance of Stipulations as to Time
2, Express Stipulations as to Time
3, Implied Terms as to Time
4, Termination of Contract for Delay in Payment
5, Acceleration of Liability
6, Interest on Contract Debts

Part IV: The Legal Implications of Inter-Bank Transfers
1, Method an Structure of Inter-Bank Payment Systems
2, The Time of Payment as between Debtor and Creditor
3, Special Features of International Inter-Bank Transfers

Part V: Foreign Money Obligations
1, The Problems Outlined
2, Performance of the Payment Obligation
3, Foreign Currency Claims and Judgments
4, The Applicable Law under English Conflict of Laws Rules