A Letter of Credit Must Be in Writing and Signed

question 47

True/False

A letter of credit must be in writing and signed by the issuer.

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Definitions:

Fixed Place of Business

A specific location where a company conducts its operations and business activities on a regular basis.

Legislation

Laws that have been enacted by a legislative body, such as a parliament or congress.

Physical Threats

Explicit or implicit actions suggesting the intent to cause bodily harm to another person.

Collection Agency

A business that pursues payments of debts owed by individuals or businesses on behalf of creditors.