A ________ is an agreement by the person who issues the letter to pay a sum of money on receipt of an invoice and other documents.
A)commercial bond
B)letter of credit
C)letter of acknowledgement
D)negotiated credit instrument
E)recognizance

Question

Quizplus · Accepted Answer

A letter of credit is an agreement by the person or institution that issues the letter to pay a sum of money on receipt of an invoice and other documents (typically documents indicating that the goods were insured against damage in transit).

A ________ Is an Agreement by the Person Who Issues