Consideration is not required to issue, amend, transfer or cancel a letter of credit, advice or confirmation.
(1959, P.A. 133, S. 5-105; P.A. 96-198, S. 5.)
History: P.A. 96-198 rephrased provisions.
Cited. 173 C. 492.
Structure Connecticut General Statutes
Title 42a - Uniform Commercial Code
Section 42a-5-101. - Short title: Uniform Commercial Code–Letters of Credit.
Section 42a-5-102. - Definitions.
Section 42a-5-104. - Formal requirements.
Section 42a-5-105. - Consideration.
Section 42a-5-106. - Issuance, amendment, cancellation and duration.
Section 42a-5-107. - Confirmer, nominated person and adviser.
Section 42a-5-108. - Issuer's rights and obligations.
Section 42a-5-109. - Fraud and forgery.
Section 42a-5-110. - Warranties.
Section 42a-5-111. - Remedies.
Section 42a-5-112. - Transfer of letter of credit.
Section 42a-5-113. - Transfer by operation of law.
Section 42a-5-114. - Assignment of proceeds.
Section 42a-5-115. - Statute of limitations.
Section 42a-5-116. - Choice of law and forum.
Section 42a-5-117. - Subrogation of issuer, applicant and nominated person.
Section 42a-5-118. - Security interest of issuer or nominated person.