New York Laws
Article 5 - Letters of Credit
5-105 - Consideration.

Consideration is not required to issue, amend, transfer, or cancel a
letter of credit, advice, or confirmation.

Structure New York Laws

UCC - Uniform Commercial Code

Article 5 - Letters of Credit

5-101 - Short Title.

5-102 - Definitions.

5-104 - Formal Requirements.

5-105 - Consideration.

5-106 - Issuance, Amendment, Cancellation, and Duration.

5-107 - Confirmer, Nominated Person, and Advisor.

5-108 - Issuer's Rights and Obligations.

5-109 - Fraud and Forgery.

5-110 - Warranties.

5-111 - Remedies.

5-112 - Transfer of Letter of Credit.

5-113 - Transfer by Operation of Law.

5-114 - Assignment of Proceeds.

5-115 - Statute of Limitations.

5-116 - Choice of Law and Forum.

5-117 - Subrogation of Issuer, Applicant, and Nominated Person.

5-118 - Security Interest of Issuer or Nominated Person.

5-119 - Applicability.

5-120 - Savings Clause.