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Title: Exceptions to the principle of autonomy of independent guarantees
Author: Chivikova, Anastasia
Awarding Body: University of Birmingham
Current Institution: University of Birmingham
Date of Award: 2007
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The Thesis is on the exceptions to the principle of autonomy of independent guarantees. Its broad aims are to assess the present approach in England and suggest directions for reform. The research employs a comparative analysis of the common law jurisdictions, in particular, Singapore, Malaysia, Australia and the US. The rationale and effects of the principle of autonomy are examined. The Thesis argues that, even though the principle plays an important role in commerce, it is not paramount and could be breached in limited circumstances. The justifications, status and scope of the exceptions such as fraud, illegality, unconscionability and breach of the underlying contract are evaluated. It is submitted that English law fails to provide adequate safeguards against unscrupulous use of independent guarantees. Thus, it is suggested that the law should be reformed to allow interference with the principle of autonomy, where the beneficiaries' demands abuse legal rights or breach the underlying contracts. Moreover, in order to ensure the practical effectiveness of the exceptions, it would be necessary to relax the traditional restrictive approach to the availability of injunctive relief.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available