§ 6A-5-105. Consideration.
Consideration is not required to issue, amend, transfer, or cancel a letter of credit, advice, or confirmation.
History of Section.P.L. 2000, ch. 182, § 4; P.L. 2000, ch. 420, § 4.
Structure Rhode Island General Laws
Title 6A - Uniform Commercial Code
Chapter 6A-5 - Letters of Credit
Section 6A-5-101. - Short title.
Section 6A-5-102. - Definitions.
Section 6A-5-104. - Formal requirements.
Section 6A-5-105. - Consideration.
Section 6A-5-106. - Issuance, amendment, cancellation, and duration.
Section 6A-5-107. - Confirmer, nominated person, and adviser.
Section 6A-5-108. - Issuer’s rights and obligations.
Section 6A-5-109. - Fraud and forgery.
Section 6A-5-110. - Warranties.
Section 6A-5-112. - Transfer of letter of credit.
Section 6A-5-113. - Transfer by operation of law.
Section 6A-5-114. - Assignment of proceeds.
Section 6A-5-115. - Statute of limitations.
Section 6A-5-116. - Choice of law and forum.
Section 6A-5-117. - Subrogation of issuer, applicant, and nominated person.
Section 6A-5-118. - Security interest of issuer or nominated person.