Massachusetts General Laws
Chapter 106 - Uniform Commercial Code
Article 5 - Letters of Credit

Section 5-113 - Transfer by Operation of Law - Section 5–113. (a) A successor of a beneficiary may consent...

Section 5-118 - Security Interest of Issuer or Nominated Person - Section 5–118. (a) An issuer or nominated person has a...

Section 5-117 - Subrogation of Issuer, Applicant, and Nominated Person - Section 5–117. (a) An issuer that honors a beneficiary's presentation...

Section 5-116 - Choice of Law and Forum - Section 5–116. (a) The liability of an issuer, nominated person,...

Section 5-115 - Statute of Limitations - Section 5–115. An action to enforce a right or obligation...

Section 5-114 - Assignment of Proceeds - Section 5–114. (a) In this section the term ''proceeds of...

Section 5-111 - Remedies - Section 5–111. (a) If an issuer wrongfully dishonors or repudiates...

Section 5-112 - Transfer of Letter of Credit - Section 5–112. (a) Except as otherwise provided in section 5–113,...

Section 5-109 - Fraud and Forgery - Section 5–109. (a) If a presentation is made that appears...

Section 5-110 - Warranties - Section 5–110. (a) If its presentation is honored, the beneficiary...

Section 5-101 - Short Title - Section 5–101. This article may be cited as Uniform Commercial...

Section 5-103 - Scope - Section 5–103. (a) This article applies to letters of credit...

Section 5-104 - Formal Requirements - Section 5–104. A letter of credit, confirmation, advice, transfer, amendment,...

Section 5-102 - Definitions - Section 5–102. (a) In this article: (1) ''Adviser'', a person...

Section 5-106 - Issuance, Amendment, Cancellation, and Duration - Section 5–106. (a) A letter of credit is issued and...

Section 5-107 - Confirmer, Nominated Person, and Adviser - Section 5–107. (a) A confirmer is directly obligated on a...

Section 5-108 - Issuer's Rights and Obligations - Section 5–108. (a) Except as otherwise provided in section 5–109,...

Section 5-105 - Consideration - Section 5–105. Consideration is not required to issue, amend, transfer,...