Which of the Following Is Not True Regarding Letters of Credit

question 70

Multiple Choice

Which of the following is not true regarding letters of credit?

• A) They are issued by banks on behalf of the importer promising to pay the exporter.
• B) A revocable letter of credit can be cancelled or revoked at any time without prior notification to the beneficiary.
• C) They guarantee that the goods shipped are the goods purchased.
• D) All of the above are true.

Recognize and understand standard mechanical abbreviations.

Identify the characteristic names and functions of components in gear systems.

Calculate the mechanical advantage of gear systems.

Understand the geometric requirements for the effective design of ratchet and pawl systems.

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Definitions:

Valuable Piece

An item considered to have significant monetary or sentimental worth.

Hostile Bidder

A company or individual that makes an offer to buy another company without obtaining the consent of the latter's board of directors.

Friendly Suitor

An individual or entity that proposes a non-hostile takeover or merger with another company, often presenting mutually beneficial terms.

Purposive Approach

A method of statutory interpretation where courts look at the legislature's intent behind the law to apply it to specific cases.