The law is the dominant framework within which transactions occur. However, another important framework is that of reputation and the need all businesses have to enhance and preserve it. Usually through long experience, legal practitioners become aware of the influence and importance of reputation, and the role that the need for any business to preserve it serves as an enforcement mechanism.
This essay considers the role of the institution of reputation in banking transactions, in particular the role of reputation in documentary credit transactions.
Banking and Finance
Date of this Version
Ross P. Buckley and Justen Nixon, "The Role of Reputation in Banking" (June 2009). University of New South Wales Faculty of Law Research Series 2009. Working Paper 18.