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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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