I wouldn't read too much into it. It's always been tacitly accepted that irrevocable letters of credit are a law unto themselves as regards consideration.

Andrew

I may be may be making mischief here but can it be argued that a majority of the Supreme Court has abolished the doctrine of consideration in Taurus Petroleum Ltd v State Oil Marketing of the Ministry of Oil, Republic of Iraq [2017] UKSC 64, para [25]? Certainly powerful obiter dicta.

In other good news various changes in English and Welsh judicial personnel may suggest we will see the pendulum swinging back to common sense on contractual construction evidenced in part by a lecture by Chancellor, Sir Geoffrey Vos entitled “Contractual Interpretation: Do judges sometimes say one thing and do another?” given at Canterbury University, Christchurch, NZ on 18 October 2017.

Available here:

http://www.chba.org.uk/news/chancellor-nz-speech

Gerard McMeel

Sent from my iPhone

Gerard McMeel Barrister
23 Broad Street Bristol BS1 2HG gerard.mcmeel@guildhallchambers.co.uk Bristol Office:  0117 930 9000 Website | Profile | Email | VCard London Office: 020 3709 9100
Guildhall Chambers' Charity of the Year Southmead Hospital Charity
This e-mail and any files transmitted with it are confidential and legally privileged. This e-mail is intended to be read only by the addressee. If you are not the intended recipient, you are notified that any review, dissemination or copying of this e-mail is prohibited and that privilege has not been waived. Although this e-mail and any attachments are believed to be free of any virus, or other defect, which might affect any computer or system into which they are received and opened, it is the responsibility of the recipient to ensure that they are virus free and no responsibility is accepted by Guildhall Chambers, or any barrister that conducts business as member of Guildhall, for any loss or damage from receipt or use thereof. If you have received this e-mail in error, please notify the sender by replying by email or by telephone (+44 (0)117 930 9000) and then delete the e-mail.