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

Terms Used In Illinois Compiled Statutes > 810 ILCS 5 > Article 5 - Letters Of Credit

  • 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.
  • 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.
  • individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
  • 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.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
  • Trustee: A person or institution holding and administering property in trust.