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Home Q & A Board Humanities Legal Studies
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abunting abunting
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6 years ago
World Inc wanted to sell sugar-free candy made by Sweets (a U.S. company) to an Italian company, Ferraro. The goods were to be paid for by an irrevocable letter of credit issued in the name of World. The letter of credit stated that drafts must be accompanied by a bill of lading, packing list, FDA approvals, and certificates of insurance. Drafts were to be presented to C Bank before March 15, 2009 . After shipping the candy to Ferraro, World presented the Bank with the required documentation on March 21, 2009 . The Bank should:
 a. pay the draft as required by the letter of credit because it is irrevocable b. pay the draft because all the required documentation is in order
  c. pay the draft because Ferraro would be unjustly enriched if it received the goods and did not pay for them d. not pay the draft because the letter of credit is irrevocable
  e. not pay the draft because World Trading has not met its contractual obligations under the letter
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hahauebfhahauebf
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6 years ago
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abunting Author
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6 years ago
You make an excellent tutor!
gage
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Yesterday
Smart ... Thanks!
bkrandy
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2 hours ago
this is exactly what I needed
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