A document may not be oral;
“Accept” or “Acceptance” Section 47-3-409
“Value” Sections 47-3-303, 47-4-211
which is presented in a written or other medium permitted by the letter of credit or, unless prohibited by the letter of credit, by the standard practice referred to in § 47-5-108(e); and
which is capable of being examined for compliance with the terms and conditions of the letter of credit.
upon payment;
if the letter of credit provides for acceptance, upon acceptance of a draft and, at maturity, its payment; or
if the letter of credit provides for incurring a deferred obligation, upon incurring the obligation and, at maturity, its performance;
designates or authorizes to pay, accept, negotiate, or otherwise give value under a letter of credit; and
undertakes by agreement or custom and practice to reimburse;
Structure 2021 Tennessee Code