Abstract
In this article, Professor Peter A. Alces investigates the tension that exists between the independent and interdependent nature of contractual relations arising in suretyship agreements and letter of credit transactions. This discussion is particularly timely as the American Law Institute is currently revising both the Restatement of the Law of Suretyship and Article 5 of the Uniform Commercial Code, "Letters of Credit." This article discerns a basic incongruity between the two revisions' treatment of interrelated multiple party rights and discusses the consequences that this incongruity can be expected to have upon commercial transactions.
Document Type
Article
Publication Date
1993
Publication Information
1993 University of Illinois Law Review 447-483
Repository Citation
Alces, Peter A., "An Essay on Independence, Interdependence, and the Suretyship Principle" (1993). Faculty Publications. 289.
https://scholarship.law.wm.edu/facpubs/289