- 30 Marks
CBLP – APRIL 2024 – L4 – Q5 – Assessable vs Chargeable Income, Letter of Comfort, and Forum Non-Conveniens
Differentiate between assessable and chargeable income, explain a Letter of Comfort in third-party security, and discuss the doctrine of Forum Non-Conveniens in international banking transactions.
Question
a). Differentiate between Assessable Income and Chargeable Income. (5 Marks)
b). Within the context of third-party security, what is a Letter of Comfort? (5 Marks)
c. What is the doctrine of ‘Forum Non-Conveniens’ and what is its utility in conflicts that may arise in International Banking transactions? (10 Marks)
[Total = 20 Marks]
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