What is the definition of Underlying transaction? | Dictionary.net

UNDERLYING TRANSACTION

\ˌʌndəlˈa͡ɪɪŋ tɹansˈakʃən], \ˌʌndəlˈa‍ɪɪŋ tɹansˈakʃən], \ˌʌ_n_d_ə_l_ˈaɪ_ɪ_ŋ t_ɹ_a_n_s_ˈa_k_ʃ_ə_n]\

Definitions of UNDERLYING TRANSACTION

1910 - Black's Law Dictionary (2nd edition)

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Deal or contract between party of the account and the beneficiary of a L/C.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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