A/An ________ letter of credit is an obligation only of the issuing bank whereas other banks honor a/an ________ letter of credit.
A) irrevocable; unconfirmed
B) revocable; confirmed
C) confirmed; irrevocable
D) unconfirmed; confirmed
Correct Answer:
Verified
Q19: The risk of default on the part
Q20: Polaris Corporation has made an agreement to
Q21: To become a negotiable instrument, a draft
Q22: In a typical international trade transaction, the
Q23: Which of the following purposes is NOT
Q25: A letter of credit that is confirmed
Q26: A revocable L/C is intended to serve
Q27: A sight draft is payable on presentation
Q28: The person or company to whom the
Q29: Drafts that have been accepted by banks
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