Answered step by step
Verified Expert Solution
Question
1 Approved Answer
In your answer please set forth which provision or provisions of 15 C.F.R. 760.2 are relevant to reaching your conclusion. 1. A, a U.S. bank
In your answer please set forth which provision or provisions of 15 C.F.R. 760.2 are relevant to reaching your conclusion. 1. A, a U.S. bank with a branch office in boycotting country Y, sends representatives to boycotted country X to discuss plans for opening a branch office in X. Upon learning of these discussions, an official of the local boycott office in Y advises A's local branch manager that if A opens an office in X it will no longer be allowed to do business in Y. As a result of this notification, A decides to abandon its plans to open a branch in X. 2. U.S. bank A receives a letter of credit in favor of U.S. beneficiary B. The letter of credit requires B to certify that he is not blacklisted. B meets all other conditions of the letter of credit but refuses to certify as to his blacklist status. A refuses to pay B on the letter of credit solely because B refuses to certify as to his blacklist status. 3. Briefly describe the main rationales for a rule such as that set forth in 15 C.F.R. Part 760.2
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started