Question
Which of the Uniform Customs & Practice for Documentary
Credits (UCP) rules issued by ICC, are currently in effect?Solution
The Uniform Customs & Practice for Documentary Credits (UCP 600) is a set of rules agreed by the International Chamber of Commerce (ICC), which apply to finance institutions which issue Letters of Credit. UCP 600 (which replaced the UCP 500) was approved by the ICC Banking Commission on 25 October 2006 and came into effect on 1 July 2007. The first UCP was created in 1933 and has been revised by the ICC up to the point of the UCP 600.
Statements:
Only Lift are Stair.
All Ladder are Lift.
No Lift is a Step.
Conclusions:
I. Some Ladder being Stair is n...
Statements:Â
Some Gases are not Solids.
All Solids are Liquid.
Only a few Liquid are Precipitation.
Conclusions:
Statements : All scores are marks.
All exams are marks.
No mark is an attempt.
Conclusions : I. All exams being scores is a possi...
Statements:
Only a few Plate are Cup.
Some Cup are not spoon.
Some spoon are fork.
Conclusions:
I. All Cup are Plate....
Statement:
 Only a few P are Q       Â
Only a few Q are P Â Â Â Â
Conclusion: Â Â Â Â Â Â Â
I. All Q being ...
Statements:
Some books are copies
Only a few copies are papers
All papers are registers
Only a few registers are windows
Statements: No magazine is a newspaper.
                            All newspaper are articles.
   �...
Statement:
Some dog are tigers.
Only a few tigers are lions.
All lions are cat.
Conclusion:
I. Some dog being lion is...
Statements:
Only a few Careers are Visions.
Some Visions are not Missions.
Some Missions are not Ambitions.
Only a few Ambit...
Statement : Â Some X are Y.
Only a few Z are X.
All Y are A.
Conclusion
I. All X are Z
II. Some A are Z
Relevant for Exams:
