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      Question

      In which of the following LOCs, the beneficiary is

      liable on a bill drawn by him under an LC?
      A Without Recourse Correct Answer Incorrect Answer
      B With Recourse Correct Answer Incorrect Answer
      C Irrevocable Credit Correct Answer Incorrect Answer
      D Confirmed Credit Correct Answer Incorrect Answer
      E All of the above Correct Answer Incorrect Answer

      Solution

      Under with Recourse facility, the beneficiary is liable on a bill drawn by him under an LC.

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