Letter of Credit

This topic has 3 replies, 2 voices, and was last updated 4 years ago by MikeLittle.

Viewing 4 posts - 1 through 4 (of 4 total)

Author

Posts
May 24, 2022 at 2:12 pm #656339
sandisandi
Participant
- Topics: 1
- Replies: 4
Passed the Law exam (Global) with 67% today. Many thanks to Opentution and Mr Mike.

I would like to know the answers of follow questions.

(1) Which letter of credit can be amended or cancelled by all the parties ?

(i) Revocable LC
(ii) Stand by LC
(ii) Irrevocable LC

(2) Which of the following country doesn’t have written constitution ?
(i) Iran
(ii) UK
(ii) USA

Could you please answer me ?
May 24, 2022 at 6:34 pm #656373
MikeLittle
Keymaster
- Topics: 27
- Replies: 23369
I’m going to say, for the first question, a revocable letter of credit

And for the second, I’m going for the UK. I seem to remember that the UK and Israel are the only two countries in the World that don’t have a written constitution. But I could be wrong!

And HUGE congratulations on passing the Law exam. Well done
May 25, 2022 at 12:05 pm #656430
sandisandi
Participant
- Topics: 1
- Replies: 4
Thank you for your answer. Now I know where I lose my marks. 🙂
May 25, 2022 at 10:02 pm #656458
MikeLittle
Keymaster
- Topics: 27
- Replies: 23369
Hmm! I don’t think that those two would have lost you 33 marks but, hey, who cares? You’re over that hurdle and on to the next. Again, well done
Author

Posts

Viewing 4 posts - 1 through 4 (of 4 total)

You must be logged in to reply to this topic.