Consideration Is Not Required to Establish or Modify a Letter

question 3

True/False

Consideration is not required to establish or modify a letter of credit.

---

Definitions:

Deception

The act of misleading or falsely representing information to alter perceptions or actions of others.

Ethical Principles

The guiding concepts that inform moral judgment and conduct, determining what is right or wrong in various scenarios.

Psychological Research

The scientific study of the mind and behavior through controlled experiments, observation, and analysis.

Psychological Research

The scientific study of the mind and behavior, utilizing systematic methods and empirical evidence to answer questions about psychological functions and processes.