A normative analysis of paperless letters of credit that will categorize the various transactions and delineate the boundaries and relative standing of the competing sets of rules is now appropriate. The analysis will suggest when an official rule is needed and what its character should be.
The Paperless Letter of Credit and Related Documents of Title,
55 Law and Contemporary Problems
Available at: http://scholarship.law.duke.edu/lcp/vol55/iss3/3