Fact Pattern 9-1

question 10

Multiple Choice

Fact Pattern 9-1
First State Bank issues a letter of credit in favor of Whirlwind Instruments Company, an American firm, to facilitate an international sales contract to buy resources from Lapland Mining, Ltd., a Finnish company.
-Refer to Fact Pattern 9-1. First State Bank must pay Lapland when Lapland

• A) enters into the contract with Whirlwind.
• B) verifies that Whirlwind has the money to pay for the purchase.
• C) complies with the terms and conditions of the letter of credit.
• D) none of the choices.

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Definitions:

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