The Internationally Accepted Body of Rules Pertaining to Letters of Credit

question 26

Multiple Choice

The internationally accepted body of rules pertaining to letters of credit is:

• A) Article 5 of the Uniform Commercial Code.
• B) Uniform Customs and Practices for Documentary Credits.
• C) Convention on Bills of Exchange and Promissory Notes.
• D) Uniform Code of Practice for Letters of Credit.

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Definitions:

Black Laws

Legislation passed in the United States during the 19th century, particularly in the North, that restricted the freedoms and rights of African Americans.

Midwestern States

A group of states in the central and northern portions of the United States known for their agricultural and industrial output.

Black Hawk War

The Black Hawk War was a brief conflict in 1832 between the United States and Native American forces led by Black Hawk, a Sauk leader.

Old Northwest

A historical term referring to the territory in the north-central United States that was covered by the 1787 Northwest Ordinance, including what is now Ohio, Indiana, Illinois, Michigan, Wisconsin, and part of Minnesota.