Consideration is not required to issue, amend, transfer, or cancel a letter of credit, advice, or confirmation.
1997, c. 343.
Structure Code of Virginia
Title 8.5A - Uniform Commercial Code - Letters of Credit
§ 8.5A-104. Formal requirements
§ 8.5A-106. Issuance, amendment, cancellation, and duration
§ 8.5A-107. Confirmer, nominated person, and adviser
§ 8.5A-108. Issuer's rights and obligations
§ 8.5A-112. Transfer of letter of credit
§ 8.5A-113. Transfer by operation of law
§ 8.5A-114. Assignment of proceeds
§ 8.5A-115. Statute of limitations
§ 8.5A-116. Choice of law and forum
§ 8.5A-117. Subrogation of issuer, applicant, and nominated person
§ 8.5A-117.1. Security interest of issuer or nominated person