Bookmark and Share This is AcaDemon.com

Home Sellers Area Buy Term paper FAQs Custom Term Papers Contact Us AcaDemon.com AcaDemon UK AcaDemon Australia AcaDemon Canada AcaDemon France AcaDemon Germany AcaDemon Spain
Tags
doctrine, equity, explanation, insurance, subrogation
Currency
Advanced
Term Paper # 112134 :: The Doctrine of Subrogation
An explanation of the doctrine of subrogation.
Written in 2009; 3,481 words; 5 sources; MLA; $ 98.95
Paper Summary:
This paper discusses the doctrine of subrogation and relates that it is squarely grounded on the law of restitution and thus the reversal of unjust enrichment. The paper specifically looks at how subrogation, while implicit in surety relationships, is a matter of controversy in the context of bankers' autonomous undertakings such as the letter of credit and bank guarantees. The paper concludes that it seems that the question of the availability of subrogation in the case of bankers' autonomous undertakings turns on the extent to which it would introduce uncertainty into this area of law. Since this area of law is also controversial and often unclear, subrogation in these cases should be avoided.
From the Paper:
"If subrogation is essentially a remedy, then the doctrine of autonomy, which ousts the co-extensiveness of customer and issuer obligations, cannot of itself oust subrogation. The independence [autonomy] principle basically determines that the beneficiary will have the money in its pocket if there is a dispute between it and the customer over the underlying transaction. This distinguishes a letter of credit from an ordinary guarantee: a guarantee is not independent in this sense, and guarantors may generally assert defenses available to the party whose obligation is guaranteed. The independence principle undoubtedly requires the issuer to pay first, without even looking through to the underlying transaction. Subrogation should therefore be unavailable before the issuer has paid the beneficiary; it may be considered unnecessary. Once the issuer has done so, however, the purpose of the independence principle has been served: the beneficiary has the money."

More papers on "The Doctrine of Subrogation"

About AcaDemon

We have thousands of high-quality term papers, research papers, essays, book reports and dissertations on every topic. At AcaDemon, you can download those term papers to help you write yours! You can be sure that the term paper, essay, book report or research paper you download are top-quality, competitively priced and high-level work.

*Look for more research papers, essays and book reports on The Doctrine of Subrogation

If you can't find your topic here, try another search

or try our affordable, unique custom paper alternative

Custom Research Services include:

  • Papers written from scratch, according to your specifications.
    Every paper is UNIQUE - Guaranteed
  • Professional, top-notch writers
  • All topics covered
  • Any deadline
  • Your satisfaction guaranteed

Place a Custom Research order now

Find out more about Custom Research



This Free Term Paper Abstract is a part of our Term Paper Library.Here you can purchase research papers, examples of essays, academic dissertations, articles, notes, analytical papers, book reports, stories and poems. We have thousands of persuasive, point-of-view, narrative, critical, compare and contrast and other types of essays in our Library. You can also find here Term papers on "The Doctrine of Subrogation", Essays on "The Doctrine of Subrogation", Research papers on "The Doctrine of Subrogation", Student papers on "The Doctrine of Subrogation", Book reports on "The Doctrine of Subrogation", Dissertation on "The Doctrine of Subrogation", Thesis on "The Doctrine of Subrogation", Summary of paper on "The Doctrine of Subrogation", Articles written on "The Doctrine of Subrogation".

Shopping Cart
 Total :
$ 0.00
Special Offer
Buy one paper and get
50% off the 2nd paper*
 
*The least expensive paper