Commercial Banking - Law Dictionary Search Results
letter of credit
of credit is considered to extend a line of credit or substitute the issuer's credit for the customer's. commercial letter of credit : a letter of credit which is used to satisfy payment for merchandise and which … document issued to a beneficiary at the request of the issuer's customer in which the issuer (as a bank) promises to honor a demand for payment by the beneficiary in order to satisfy or secure the customer's
Includes
vehicles, also proceeds on the basis that a private carrier who is carrying on activities which are not commercial would be included within the expression 'motor transport undertaking', Municipal Council v. State of Madhya Pradesh, AIR 1970 … includes', depending on the content, N.D.P. Namboodripad v. Union of India, AIR 2007 SC 1782; see also Reserve Bank of India v. Peerless General Finance and Investment Co. Ltd., 1987 (1) SCC 424. Indicates a commonality or
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