Examlex

Solved

A(n)________ Allows the Bank to Modify the Terms of the Letter

question 98

Multiple Choice

A(n) ________ allows the bank to modify the terms of the letter only after obtaining the approval of both exporter and importer.


Definitions:

Time Limit

A specific duration within which an action must be initiated or completed.

Mailbox Rule

A legal principle that an offer is considered accepted once the acceptance is dispatched, not when it is received by the offeror.

Verbal Acceptance

An agreement to the terms of an offer conveyed through spoken words rather than written.

Promissory Estoppel

A legal principle that prevents a promisor from retracting a promise when the promisee has relied on it to their detriment.

Related Questions