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Q45 Single choice

Which statement is correct concerning commercial letters of credit?

A
A letter of credit is not a negotiable instrument, and the contract of sale between the buyer and seller is independent of the letter of credit
B
A letter of credit is not a negotiable instrument, and the contract of sale between the buyer and seller is dependent of the letter of credit
C
A letter of credit is a negotiable instrument, and the contract of sale between the buyer and seller is independent of the letter of credit
D
A letter of credit is a negotiable instrument, and the contract of sale between the buyer and seller is dependent on the letter of credit

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