ОСНОВНА ПРАВНА АНАЛИЗА АКРЕДИТИВА У ПРАВУ РЕПУБЛИКЕ СРБИЈЕ
BASIC LEGAL ANALYSIS OF THE LETTER OF CREDIT IN SERBIAN LAW

Summary/Abstract: In the law of the Republic of Serbia, there is special regulation on the letter of credit. However, certain legal problems still exist. The main problems are: the lack of a more complete legal definition of the letter of credit; using the same terms in different contexts with different meanings; undeveloped regulation on the notification on the opening of a letter of credit; and the issue whether the basic legal relations in the letter of credit are independent relations. This paper examines the basic issues and the institutes of the letter of credit. The starting position is that any legal transaction involving a letter of credit, content-wise, entails the same obligation to pay out the amount specified in the letter of credit, that the basic legal relations in the letter of credit are interdependent relations, and that the legal nature of the letter of credit is unique. The paper also points to the problems encountered in different conceptions on the basic issues pertaining to the letter of credit.

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