A LETTER OF CREDIT CAN BE EITHER “REVOCABLE” OR “ IRREVOCABLE ”. F...

Question

47. A letter of credit can be either “revocable” or “ irrevocable ”. Few exporters will accept a revocable letter of credit, so the plain expression “letter of credit” generally means the irrevocable kind. The word “irrevocable”, therefore, should not always appear in the text of the credit and of the contract. Right or wrongA. wrongB. wrong, because it should always appear in the text …C. rightD. right, because in the absence a clear indication….

Answer

47. A letter of credit can be either “revocable” or “ irrevocable ”. Few exporters will accept a revocable letter of credit, so the plain expression “letter of credit” generally means the irrevocable kind. The word “irrevocable”, therefore, should not always appear in the text of the credit and of the contract. Right or wrongA. wrongB. wrong, because it should always appear in the text …C. rightD. right, because in the absence a clear indication….

A LETTER OF CREDIT CAN BE EITHER “REVOCABLE” OR “ IRREVOCABLE ”. F...

47. A letter of credit can be either “revocable” or “ irrevocable ”. Few exporters will

accept a revocable letter of credit, so the plain expression “letter of credit” generally

means the irrevocable kind. The word “irrevocable”, therefore, should not always

appear in the text of the credit and of the contract. Right or wrong

A. wrong

B. wrong, because it should always appear in the text …

C. right

D. right, because in the absence a clear indication….

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