Bank X Agrees to Open a Letter of Credit on Jerry's

question 4

Multiple Choice

Bank X agrees to open a letter of credit on Jerry's behalf in favour of Fruta, a Bulgaria- based manufacturer of jams and preserves, that Jerry wants to use as payment for a shipment of inventory headed for Canada. The letter is confirmed by Liberty Bank, a bank based in Sofia, Bulgaria, that is Fruta's principal banker and creditor. This letter of credit is "irrevocable and confirmed." Which statement best describes the rights and obligations of the parties?

• A) Jerry can revoke the letter of credit at any time.
• B) Bank X may revoke the letter of credit if Fruta does not present documents conforming to the requirements of the letter of credit.
• C) Fruta will present documents conforming to the requirements of the letter of credit to Liberty Bank, which will pass them on to Bank X which will pay Fruta directly.
• D) Fruta will present documents conforming to the requirements of the letter of credit to Liberty Bank, which will pass them on to Bank X, which will, in turn pass them on to Jerry. Jerry will pay Fruta directly.
• E) Liberty Bank is obliged to pay Fruta so long as it receives documents conforming to the requirements of the letter of credit from Fruta. Liberty Bank will be reimbursed by Bank X.

---

Definitions:

Body Project

A program designed to challenge and reduce the internalization of societal beauty ideals, aiming to improve body satisfaction and reduce the risk of eating disorders.

Thin Ideal

A societal standard that idealizes and promotes a physically slim body for women as attractive and desirable.

Dissonance

A state of conflict or inconsistency between one's beliefs, values, or actions.

Bulimia

An eating disorder marked by a cycle of binge eating followed by behaviors such as vomiting or excessive exercise to prevent weight gain.