A Letter of Credit Is a Contract Between an Importer

question 52

True/False

A letter of credit is a contract between an importer and a bank that transfers liability for paying the exporter from the importer to the importer's bank.

---

Definitions:

Passive Therapy

A treatment approach where the patient undergoes intervention with minimal active effort or participation, often relying on external actions.

Intellectual

Relating to the ability to think and understand ideas and information at a high level of complexity.

Basic Anxiety

A concept introduced by psychoanalyst Karen Horney, referring to feelings of helplessness and insecurity that arise from living in a potentially hostile world.

Neurotic Needs

Psychological needs that can lead to anxiety and unrealistic desires or expectations when they are not met.