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    • Legislation USA
    • Vermont Statutes
    • Title 9A - Uniform Commercial Code
    • Article 5 - Letters of Credit
    • § 5—105. Consideration

    Vermont Statutes
    Article 5 - Letters of Credit
    § 5—105. Consideration

    § 5—105. Consideration
    Consideration is not required to issue, amend, transfer, or cancel a letter of credit, advice, or confirmation. (Added 1997, No. 65 (Adj. Sess.), § 1, eff. Jan. 1, 1999.)

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    Structure Vermont Statutes

    Vermont Statutes

    Title 9A - Uniform Commercial Code

    Article 5 - Letters of Credit

    § 5—101. Short title

    § 5—102. Definitions

    § 5—103. Scope

    § 5—104. Formal requirements

    § 5—105. Consideration

    § 5—106. Issuance, amendment, cancellation, and duration

    § 5—107. Confirmer, nominated person, and adviser

    § 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

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