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Letter of Credit

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Letter of Credit

  • This topic has 3 replies, 2 voices, and was last updated 8 months 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: 3
    • ☆

    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: 26
    • Replies: 22705
    • ☆☆☆☆☆

    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: 3
    • ☆

    Thank you for your answer. Now I know where I lose my marks. 🙂

    May 25, 2022 at 10:02 pm #656458
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22705
    • ☆☆☆☆☆

    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
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