Woori America breached its duty as a presenting bank in failing to obtain acceptances of 11 bills of exchange directly on the bills, as contemplated by ICC Uniform Rules for Collections, URC 522 (1995 rev), to which these transactions were clearly subject. There was also uncontroverted evidence of international custom and practice with respect to such transactions, as well as UCC 3-410, which requires that acceptance be written on the draft. Kookmin failed to become a holder...
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