In a letter or credit, the _______ will be the drawer of the drafts that will be drawn under a letter of credit.
A) correspondent bank.
B) issuer.
C) beneficiary.
D) advising bank.
Question 2
James Morgan executed a valid will on December 14, 2005. On July 14, 2010, James crossed out several provisions of the will. On February 13, 2013, James had a lawyer draw up another will. On February 15, 2015, James had still another lawyer draw up another will. The executor of the estate has found the four wills and the distribution provisions are all different under each of the wills. Which statement best describes the situation the probate court faces?
A)All of the wills are invalid because they are contradictory.
B)The 2010 will is invalid because portions of it were crossed out.
C)The original 2005 will is the only valid one.
D)The 2015 will is the one that will be admitted to probate.
Spot the missing letter
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