Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

25 is a concept applied to letter of credit transactions. Under the concept, a misspelled name or typographical error (in a document submitted within the

image text in transcribed
25 is a concept applied to letter of credit transactions. Under the concept, a misspelled name or typographical error (in a document submitted within the documentary set) will allow the bank to refuse payment to the beneficiary. If the documents are not in conformity with the letter of credit, the seller cannot force payment by the bank and the back pays at its own risk. a Strict compliance b. Evergreen C. Bona fide d. Irrevocable credit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Law Text and Cases

Authors: Kenneth W. Clarkson, Roger LeRoy Miller, Gaylord A. Jentz, F

11th Edition

324655223, 978-0324655223

More Books

Students also viewed these Law questions

Question

What is the age profile of the employees?

Answered: 1 week ago

Question

u = 5 j , v = 6 i Find the angle between the vectors.

Answered: 1 week ago

Question

=+ How does this differ from the Solow model?

Answered: 1 week ago