A documentary credit for USD 120,000.00 calls for shipment of fertiliser in February, March, April and May. Each shipment is to be for about 500 tonnes. Shipment was effected as follows:
A. 450 tonnes sent 24 February for value USD 27,000.00.
B. 550 tonnes sent 12 April for value USD 33,000.00.
C. 460 tonnes sent 30 April for value USD 28,000.00.
D. 550 tonnes sent 4 June for value USD 33,000.00.
Which of the above shipments will be honoured on presentation?
(1)( ) A only.
(2)( ) A and C only.
(3)( ) B and D only.
(4)( ) A, B and C only.
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