§ 42a-5-101 Short title: Uniform Commercial Code-Letters of Credit
§ 42a-5-102 Definitions
§ 42a-5-103 Scope
§ 42a-5-104 Formal requirements
§ 42a-5-105 Consideration
§ 42a-5-106 Issuance, amendment, cancellation and duration
§ 42a-5-107 Confirmer, nominated person and adviser
§ 42a-5-108 Issuer’s rights and obligations
§ 42a-5-109 Fraud and forgery
§ 42a-5-110 Warranties
§ 42a-5-111 Remedies
§ 42a-5-112 Transfer of letter of credit
§ 42a-5-113 Transfer by operation of law
§ 42a-5-114 Assignment of proceeds
§ 42a-5-115 Statute of limitations
§ 42a-5-116 Choice of law and forum
§ 42a-5-117 Subrogation of issuer, applicant and nominated person
§ 42a-5-118 Security interest of issuer or nominated person
§ 42a-5-118a Applicability
§ 42a-5-119 Savings clause

Terms Used In Connecticut General Statutes > Article 5

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • another: may extend and be applied to communities, companies, corporations, public or private, limited liability companies, societies and associations. See Connecticut General Statutes 1-1
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Executor: A male person named in a will to carry out the decedent
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Statute: A law passed by a legislature.
  • Trustee: A person or institution holding and administering property in trust.