RELIANCE COMMODITIES, INC. v. DAEWOO INDUSTRIAL CO., LTD. Letter of Credit as a Mode of Payment
FACTS: On 9 January 1980, petitioner Reliance, as buyer, and respondent Daewoo, as seller, entered into a contract of sale of 2,000 metric tons of foundry pig iron. Upon arrival in Manila, the subject cargo was found to be short of 135.655 metric tons. Only 1,864.345 metric tons were discharged and delivered to Reliance. On… Read More RELIANCE COMMODITIES, INC. v. DAEWOO INDUSTRIAL CO., LTD. Letter of Credit as a Mode of Payment