Assignment 3: Graded Weekly Assignment: Coffee Business Investment: Letter of Credit
After receiving the initial advice you and your attorney have provided, Andrea and Lena have decided to invest in the coffee business in Panama. They have decided to purchase the coffee business in Panama, subject to the satisfactory completion of a review of the business by their accountants. This review will be conducted over the next three months. The clients have requested that a letter of credit be drafted for the payment of the purchase price for the business.
Your attorney asks you to draft a letter of credit for this transaction. (Use the sample Letter of Credit provided in Chapter 12 of the textbook as a model for your Letter of Credit.)