CÂU 50. WHAT DOES PROMPT PAYMENT OF LETTET OF CREDIT DEPEND ON

24. Which of the following is NOT true?

A. A letter of credit is a binding agreement by the buyer to pay a certain sum of

money when the exporter presents the necessary documents

B. A letter of credit is like a bill of exchange given for the price of goods

C. A letter of credit ranks as cash and must be honored

D. No set off or counterclaim is allowed to detract from a letter of credit