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8 December, 19:36

The First National Bank of Guatemala issues a letter of credit in which the bank agrees to pay Eduardo, a seller of jade, on Eduardo's delivery of a certain amount of jade to a particular location. In this case, Eduardo is

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  1. 8 December, 19:43
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    The correct answer is letter "C": the beneficiary.

    Explanation:

    In Law, a beneficiary is an individual or entity who receives a payment or a certain type of benefit from a benefactor. The benefit is provided because the benefactor incurred in a fault or as part of a fiduciary relationship with the beneficiary with the intention of continuing to do business.

    Thus, Eduardo is the beneficiary of First National Bank of Guatemala (benefactor) when they provide him a seller of jade for every amount of jade delivered to particular locations.
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