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Section 440.5101 - Uniform Commercial Code—letters of Credit; Short Title of Article. - Sec. 5101. This article may be cited as uniform commercial...
Section 440.5102 - Definitions. - Sec. 5102. (1) As used in this article: (a) "Adviser"...
Section 440.5103 - Letters of Credit; Scope of Article. - Sec. 5103. (1) This article applies to letters of credit...
Section 440.5104 - Issuance; Authentication. - Sec. 5104. A letter of credit, confirmation, advice, transfer, amendment,...
Section 440.5105 - Consideration. - Sec. 5105. Consideration is not required to issue, amend, transfer,...
Section 440.5106 - Credit; Issuance; Enforcement; Revocation; Expiration. - Sec. 5106. (1) A letter of credit is issued and...
Section 440.5107 - Confirmation; Rights and Obligations; Request to Advise; Notice to Transferee Beneficiary. - Sec. 5107. (1) A confirmer is directly obligated on a...
Section 440.5108 - Honoring or Dishonoring Presentation. - Sec. 5108. (1) Except as otherwise provided in section 5109,...
Section 440.5109 - Forged or Fraudulent Document; Injunction; Findings of Court. - Sec. 5109. (1) If a presentation is made that appears...
Section 440.5110 - Warranties on Presentment or Transfer. - Sec. 5110. (1) If presentation is honored, the beneficiary warrants:...
Section 440.5111 - Wrongful Dishonor, Repudiation, or Breach; Rights of Claimant or Applicant; Liability of Issuer, Nominated Person, or Adviser; Attorney Fees; Liquidated Damages. - Sec. 5111. (1) If an issuer wrongfully dishonors or repudiates...
Section 440.5112 - Right to Draw or Demand Performance Under Letter of Credit; Transfer. - Sec. 5112. (1) Except as otherwise provided in section 5113,...
Section 440.5113 - Rights of Successor Beneficiary. - Sec. 5113. (1) A successor of a beneficiary may consent...
Section 440.5114 - Proceeds of Letter of Credit. - Sec. 5114. (1) In this section, "proceeds of a letter...
Section 440.5115 - Commencement of Action. - Sec. 5115. An action to enforce a right or obligation...
Section 440.5116 - Jurisdiction; Forum. - Sec. 5116. (1) The liability of an issuer, nominated person,...
Section 440.5117 - Rights of Subrogation. - Sec. 5117. (1) An issuer that honors a beneficiary's presentation...
Section 440.5118 - Document Presented Under Letter of Credit; Security Interest of Issuer or Nominated Person. - Sec. 5118. (1) An issuer or nominated person has a...