Letter of Credit are usually issued by ____
A. Banks
B. Financial institutions
C. Both of above
D. None of the above
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A ____ is a document from a bank guaranteeing that a seller will receive payment in full as long as certain delivery conditions have been met:
Agreement
B. Letter of Credit
C. Bill Paper
D. None of the above
Letter of Credit is beneficial for which party ____
A. Seller (Exporter)
Buyer (Importer)
C. Both of the above
D. None of the above
A party who makes a promise to pay is the ____ of a note.
A. Drawer
B. Drawee
C. Payee
D. Payer
Negotiable instruments are also referred to as "commercial paper." ( )