1. What is the difference between a confirming bank and an advising bank? What obligations and responsibilities define both these kinds of banks? (4 marks) 2. Describe the differences between the usual documentary credit and a standby letter of credit, and describe a typical situation in which each would be most commonly found. (4 marks) 3. Discuss the two important issues in the Angelica-White wear case we discussed in class and report how the Supreme Court of Canada decided upon each issue. (4 marks) 4. Briefly summarize the Office of the Privacy Commissioner of Canada's Guidelines for the processing of personal data across borders (posted on Teams). marks) 5. Do you think that organizations that are subject to the Personal Information and Electronic Documents Act should have to obtain additional consent to cross-border transfers of personal information? Why or why not? (2 marks)