How are letters of credit different from secured transactions?
A. A letter of credit tells a prospective seller how much you can buy.
A secured transaction provides the bank with assurance of
repayment.
B. There is no difference because the bank benefits in both cases.
C. A letter of credit is covered in Article 9 and a secured transaction
is covered in Article 5 of the UCC.
D. A letter of credit is sent from the seller to the buyer and a secured
transaction means the seller must ship the product.
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