The issuer of a letter of credit:
A) is obligated to honor drafts drawn under the letter if the conditions specified in the letter have been met.
B) has no duty to verify that the papers are properly supported by facts.
C) has no duty to verify that the underlying transaction has been performed.
D) all of the above.
Correct Answer:
Verified
Q41: If an issuer requests its correspondent bank
Q42: A letter of credit usually sets a:
A)
Q44: Bud is unable to obtain a loan
Q46: Howard bought goods from Williams. Howard sent
Q48: A letter of credit:
A) cannot last for
Q49: A letter of credit:
A) is an advance
Q50: Deirdre read that bids were being solicited
Q51: Which of the following is not a
Q52: An agreement under which one party agrees
Q52: Bailment given as security for the payment
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