57A-5-105. Consideration.
Consideration is not required to issue, amend, transfer, or cancel a letter of credit, advice, or confirmation.
Source: SL 1998, ch 283, ยง1.
Structure South Dakota Codified Laws
Title 57A - Uniform Commercial Code
Chapter 05 - Letters Of Credit
Section 57A-5-101 - Short title.
Section 57A-5-102 - Definitions.
Section 57A-5-104 - Formal requirements.
Section 57A-5-105 - Consideration.
Section 57A-5-106 - Issuance, amendment, cancellation, and duration.
Section 57A-5-107 - Confirmer, nominated person, and adviser.
Section 57A-5-108 - Issuer's rights and obligations.
Section 57A-5-110 - Warranties.
Section 57A-5-112 - Transfer of letter of credit.
Section 57A-5-113 - Transfer by operation of law.
Section 57A-5-114 - Assignment of proceeds.
Section 57A-5-115 - Statute of limitations.
Section 57A-5-116 - Choice of law and forum.
Section 57A-5-117 - Subrogation of issuer, applicant, and nominated person.
Section 57A-5-118 - Issuer's security interest in document presented under letter of credit.