North Carolina General Statutes 25-7-509. Adequate compliance with commercial contract
Current as of: 2023 | Check for updates
|
Other versions
Whether a document of title is adequate to fulfill the obligations of a contract for sale, a contract for lease, or the conditions of a letter of credit is determined by Article 2, 2A, or 5 of this Chapter. (1965, c. 700, s. 1; 2006-112, s. 25.)
Terms Used In North Carolina General Statutes 25-7-509
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC