Letter of credit (L/C) has a massive role in expanding international trade operations. It is considered the most secure and stable banking service to finance foreign trade operations such as import and export. As an international contract, potential legal issues arise due to fraud practices. In this case, L/C users have to be aware of different approaches followed by domestic courts while dealing with fraud at the international level. This paper aims to identify the fraud means under the fraud rule governing L/C and its impact on Jordan's practice. By applying a qualitative and doctrinal legal approach, this paper analyses the lack of organization of the uniform customs and practice for the letter of credit (UCP No. 600). It also examines, via interviews with Jordanian judges, the perceptions of the Jordanian courts' policy regarding the fraud rule exception in L/C. The finding reveals that to protect the interests of all parties in a letter of credit transaction, Jordanian courts should extend the scope of fraud to cover sale contracts fraud in cases where bona fide holder is involved and when a confirming bank is absent, or when the credit amount has not been paid yet by the issuing bank. In respect of the bank practices, such special provisions implemented to commercial code must be issued due to the lack of legal provisions of the L/C in Jordan legislation.
<p>Contracts play a significant role in both economic and commercial transactions, whether internal contract within a national legal system of a State or contract with international nature due to there is more than one legal system would be involved. As a tool that runs international trade and a means of economic exchanges across the border, it can not be denied that many practitioners have high stakes and interest through a contract. The internationality of the contract may impose its subordination to a law other than the law of the judge, and may be subjected to the international substantive rules represented in the most common rules of international law or common principles of international trade rules. Therefore, the definition of the concept of an international contract is a critical issue for the consequences of this limitation. Therefore, the appraisal between domestic and international contract is crucial to do as well as the role of the will in internationalizing the contract.</p>
This article aimed to explore judicial control over the constitutionality of laws in the State of Palestine. The article problem was represented in the authority involved with judicial control over the constitutionality of laws in Palestine, and what is the legal effect of ruling on the unconstitutionality of specific legislation. The judicial control is meant the constitutional judiciary undertakes to examine the constitutionality of laws and regulations issued by the Legislative Council or the President of State, to determine whether they are in conformity with the constitution or are in violation of it. This article uses normative legal research using the legislation approach and doctrinal approach. The importance of this article is that it has been discussed the legal framework governing judicial control of the constitutionality of laws in Palestine, and sheds light on the concept of judicial control, its mechanisms, nature, and effects to ensure the protection and consolidation of constitutional texts. In order to achieve the objective of this study, the socio-legal research using the qualitative approach was engaged to describe and analyze the opinions of jurists, legal texts, and rulings of constitutional courts in Palestine. Among the most important results that the author reached is that the state of law cannot be established without adopting the principle of judicial control over the constitutionality of laws to protect the legal texts that exist within the constitution, which is the supreme law within the legislative hierarchy.
Since 2020, the novel Corona pandemic had negatively affected the people's economic situation in Jordan. The Jordanian government procedures to contains the spread of the virus from movement restriction, border closures, and lookdown have forced companies to shut down their businesses completely or partly and lay off workers or reduce their remuneration. Some of these companies that had been negatively affected was nonprofit Companies. Nonprofit Companies in Jordan have faced a decrease in financial returns as a result of the reduced amount of donations and an increase in demand of the services they provide, especially those that provide health services. As a result, non-profit companies operating in Jordan had adopted new approaches and mechanism of working to survive and to still be relevant in the Jordanian society. This research article primarily focuses on the impact of the Corona pandemic on non-profit companies operating in Jordan in terms of financials, strategies and the impact of the Jordanian defense law on the situation of the labor working in these institutions. The research has reached to several results that highlight the impact of the Corona pandemic. Corona pandemic had and still has a significant impact on non-profit companies from an economic and legal point of view.
International trade and the movement of goods between parties living in different countries have spread in the last century and have become one of the fundamental features of the current trade. This proliferation of international contracts, of course, has its own problems. The problems of external Islamic or conventional letters of credit affect export, since letters of credit are considered a valuable tool used in financing foreign trade operations. Therefore, the problems faced by exporters in letter of credit reflect on and impact trade in general. Thus, the fewer the credit problems are, the more active foreign trade especially export will be. But if problems are relatively large, exports will contract. This study attempts to identify the problems of external and internal letters of credit facing the Jordanian traders and Jordanian Islamic and conventional banks, and to analyze them in an organized scientific manner, then proposing the appropriate recommendations to address these problems.
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