Indiana Code
Chapter 5.1. Letters of Credit
26-1-5.1-105. Consideration

Sec. 105. Consideration is not required to issue, amend, transfer, or cancel a letter of credit, advice, or confirmation.
As added by P.L.183-1996, SEC.4.

Structure Indiana Code

Title 26. Commercial Law

Article 1. Uniform Commercial Code

Chapter 5.1. Letters of Credit

26-1-5.1-101. Short Title; Scope

26-1-5.1-102. Definitions

26-1-5.1-103. Applicability to Ic 26-1-8.1; Ability to Vary by Agreement; Independence of Rights and Obligations Under Letter of Credit

26-1-5.1-104. Formal Requirements; Signing or Standard Practice

26-1-5.1-105. Consideration

26-1-5.1-106. Time and Effect of Establishment of Credit; Expiration

26-1-5.1-107. Confirmation; Advice of Credit; Error in Statement Terms; Notice to Transfer Beneficiary

26-1-5.1-108. Issuer's Duty and Privilege to Honor; Standard Practice; Issuer's Rights Upon Honor of Presentation

26-1-5.1-109. Fraud and Forgery

26-1-5.1-110. Warranties on Transfer and Presentment

26-1-5.1-111. Remedies for Wrongful Dishonor, Repudiation, or Breach of Obligation

26-1-5.1-112. Transferability

26-1-5.1-113. Successors of Beneficiaries; Rights; Recognition

26-1-5.1-114. Proceeds of Letter of Credit; Assignment

26-1-5.1-115. Statute of Limitations

26-1-5.1-116. Applicable Law Regarding Liability of Issuer; Choice of Forum

26-1-5.1-117. Rights of Subrogation

26-1-5.1-118. Security Interest of Issuer or Nominated Person