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California Commercial Code > Division 5 - Letters Of Credit

California Codes > California Commercial Code > Division 5 - Letters Of Credit


Current as of: 2010
§ 5101This division may be cited as Uniform Commercial~
§ 5102In this division:~
§ 5103This division applies to letters of credit and to certain~
§ 5104A letter of credit, confirmation, advice, transfer,~
§ 5105Consideration is not required to issue, amend, transfer, or~
§ 5106A letter of credit is issued and becomes enforceable~
§ 5107A confirmer is directly obligated on a letter of credit~
§ 5108Except as otherwise provided in Section 5109, an issuer~
§ 5109If a presentation is made that appears on its face~
§ 5110If its presentation is honored, the beneficiary warrants:~
§ 5111If an issuer wrongfully dishonors or repudiates its~
§ 5112Except as otherwise provided in Section 5113, unless a~
§ 5113A successor of a beneficiary may consent to amendments,~
§ 5114In this section, "proceeds of a letter of credit" means~
§ 5115An action to enforce a right or obligation arising under this~
§ 5116The liability of an issuer, nominated person, or adviser~
§ 5117An issuer that honors a beneficiary's presentation is~
§ 5118An issuer or nominated person has a security interest in~

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