The bank presents the bill to the purchaser (the acceptor of the bill) on the due date and gets its payment. ... To illustrate, suppose a bank opens a letter of credit in favour of A for some purchases that A plans to make from B. If A does not make payment to B within the credit ... Naturally, B would hardly have any hesitation to extend credit to A when a bank opens a letter of credit in favour of A. It is ... The lender (pledgee) is expected to take reasonable care of goods pledged with him.
|Title||:||Fund of Financial Management 5e|
|Publisher||:||Tata McGraw-Hill Education - 2010|