In a Letter-Of-Credit Transaction, Unum Inc

Multiple Choice

In a letter-of-credit transaction, Unum Inc., a U.S. firm, delivers a bill of lading to Verity Bank to prove that a contracted-for shipment was made to Wallaby Ltd., an Australian company. Verity must pay Unum

A) before policing the underlying contract.
B) after verifying the facts that the bill of lading purports to reflect.
C) against the bill of lading, without more.
D) coincident with the buyer's assurance of its receipt of the goods.