Why is it so important that the issuing bank substitute its credit for that of the account

Question:

Why is it so important that the issuing bank substitute its credit for that of the account party?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Introduction To Business Law

ISBN: 9780324826999

3rd Edition

Authors: Jeff Rey F. Beatty, Susan S. Samuelson

See More Books

Question Posted: Jan 18, 2012 07:24 AM

See More Questions

Why is it so important that organizations keep trying to encourage productive mentoring relationships between senior- and junior-level employees? What are some of the challenges associated with...
Why is it so important that a sample be as representative of the population as possible?
Why is it so important that variance reports be prepared in a timely manner?
Violet Flowers expects to sell 3,000 plants a month. She estimated the following monthly costs: Variable Costs $9,000 Fixed Costs $15,000 During her second month of operation, Violet would like to...
A long, straight wire carrying a current of 305 A is placed in a uniform magnetic field that has a magnitude of 7.00 10-3 T. The wire is perpendicular to the field. Find a point in space where the...
Draw a diagram showing how a customer using tawarruq can place a deposit in a bank with a fixed return.
In Exercises 1 to 4, it may be helpful to draw a figure such as Figure 5.5. Figure 5.5. Using the normal curve table, determine the area of the standard normal distribution that is greater than the...
Litton Industries uses a perpetual inventory system. The company began its fiscal year with inventory of $267,000. Purchases of merchandise on account during the year totaled $845,000. Merchandise...
Custom Furniture Company Contribution Income Statement For the Month of June Total Per Unit Sales (500 chairs) $ 250,000 $ 500 Less: Variable expenses 150,000 300 Contribution margin 100,000 $ 200...
A restaurant manager is interested in taking a more statistical approach to predicting customer load. She begins the process by gathering data. One of the restaurant hosts or hostesses is assigned to...
What does underlying commercial transaction mean?
Besides doubts about the creditworthiness of the buyer, why else might a seller prefer payment by LOC?
What is the purpose of a shell company and how is it normally formed?
Consider the arguments for and against the development and introduction of a partnership agreement in an organisation.
Define cointegration.
Define the term strategy.
Describe and evaluate a range of approaches to strategy making.
Choose an organisation with which you are familiar and, using Guests evaluation of the four possible approaches to the management of the employment relationship, describe the current employment...
The performances of 250 salespeople in a company are summarized in the following table. Derive the expected frequencies, assuming that the data are from a normal distribution. Do the data collected...
How do individual companies respond to economic forces throughout the globe? One way to explore this is to see how well rates of return for stock of individual companies can be explained by stock...
What is the difference between net income and cash flow, and which is more meaningful to a firm's financial condition?
C. A. Nimocks was a promoter engaged in organizing the Times Printing Company. On September 12, on behalf of the proposed corporation, he made a written contract with McArthur for her services as...
Todd and Elaine purchased for $300,000 a building that was used for manufacturing pianos. Then as promoters, they formed a new corporation and resold the building to the new corporation for $500,000...
Wayne signed a subscription agreement to purchase one hundred shares of stock of the proposed ABC Company, at a price of $18 per share in a State that has adopted the Revised Act. Two weeks later,...
Consider a plane of mass 50,000 kg in takeoff when the thrust for each of its four engines is 25,000 N. If the plane is facing an air drag force of 10,000 N; What is the acceleration of the plane?
Discuss the rationale and ways in which developers are regulated in relation to the acquisition and development of land in Singapore.
Interview an individual who has a chronic illness. With the individual's permission, interview them about what it is like to live with a chronic illness, the most difficult parts of being chronically...

Why is it so important that the issuing bank substitute its credit for that of the account

Question:

Step by Step Answer:

The seller of goods often does not kn...View the full answer

Introduction To Business Law

Students also viewed these Business Law questions