Which means they are governed separately under the letter

Reference no: EM133674678

Question: The court held that both the guarantees and counter-guarantees are subject to the Letter of Credit Law. This means that no demand for payment will be granted until the contract is breached, modified, or vacated. The court also emphasized that both the guarantee and counter-guarantee are independent from the original contract, which means they are governed separately under the Letter of Credit Law.

Reference no: EM133674678

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