Assuming that the general rules apply,which of the following statements is TRUE with respect to letters of credit?
A) Payment is premised upon delivery of the goods in satisfactory condition.
B) They can be used only for international sales.
C) The issue of compliance with the letter of credit is subject to the reasonable person test.
D) They reduce the buyer's risk in an international sale.
E) None of the above.
Correct Answer:
Verified
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