International Encyclopedia of Comparative Law Online

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II. Sources of Law
(9,893 words)

Volume IX: Commercial Transactions and Institutions | Chapter 5 (1980): Letters of Credit

Completed in September 1978

Boris Kozolchyk

A. Introduction

15. The law of commercial letters of credit is largely customary in nature. Many of its operative rules, regardless of geography or legal system, have emerged from the customs of bankers dealing with importers and exporters, and with shipping and insurance co…

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Boris Kozolchyk, “II. Sources of Law”, in: International Encyclopedia of Comparative Law Online, Edited by: U. Drobnig, R. David, H. H. Egawa, R. Graveson, V. Knapp, A. T. Von Mehren, Y. Noda, S. Rozmaryn, V. M. Tschchikvadze, H. Valladão, H. Yntema, K. Zweigert. Consulted online on 25 January 2022 <>
First published online: 2018

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