The Principle of Strict Compliance in Relation to Letters of Credit

question 46

Multiple Choice

The principle of strict compliance in relation to letters of credit in Canada provides that

• A) the seller must present documents that strictly comply with the terms of the credit before he or she is entitled to receive payment.
• B) the purchaser must strictly comply with the terms of the credit before he or she is allowed to obtain the goods from the shipper.
• C) the buyer's bank is not allowed to pay anyone until it receives independent notification that the goods are received by the buyer.
• D) the shipper is not permitted to give the goods to anyone but those identified in the letter of credit.
• E) the seller's bank can demand strict compliance with the bank's policies when deciding whether to pay the seller.

---

Definitions:

Cytotoxic T Cells

Immune cells responsible for destroying cancerous cells, those infected (especially by viruses), or cells otherwise harmed.

Cells to Lyse

The process of cell lysis, where cells break down and release their contents, often due to damage or the action of certain toxins or immune cells.

IgG Antibodies

A type of antibody that is the most abundant in body fluids and plays a key role in the immune response to pathogens.

Contact Killing

A phenomenon where certain cells or materials can destroy microorganisms on direct contact, often used in reference to antimicrobial surfaces.