Fact Pattern 22-B1

Multiple Choice

Fact Pattern 22-B1
First State Bank issues a letter of credit in favor of Oboe Company, an American firm, to facilitate an international sales contract to buy resources from Lapland Mining, Ltd., a Finnish company.
-Refer to Fact Pattern 22-B1. In a letter of credit, the ben?eficiary is

A) Lapland.
B) Oboe.
C) First State Bank.
D) none of the above.