Which of the following can be exercised only when presented with specified shipping records?
A) A documentary draft
B) A letter of credit
C) A mail order
D) A codicil

Question

Quizplus · Accepted Answer

A documentary draft is a type of bill of exchange, which requires the presentation of specified shipping documents before it can be exercised. This provides security for the seller and gives assurance to the buyer that the goods have been shipped as per the terms of the agreement.

B) A letter of credit may also require presentation of shipping documents, but it is not a requirement for all letters of credit. Therefore, this option is not as specific to the question.

C) A mail order and D) A codicil are not related to shipping records and do not require presentation of such documents.

Which of the Following Can Be Exercised Only When Presented