§ 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

Terms Used In Texas Business and Commerce Code Chapter 5

  • Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
  • 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.
  • Executor: A male person named in a will to carry out the decedent
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • 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.
  • Hunt: means capture, trap, take, or kill, or an attempt to capture, trap, take, or kill. See Texas Parks and Wildlife Code 1.101
  • Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • 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.
  • Take: except as otherwise provided by this code, means collect, hook, hunt, net, shoot, or snare, by any means or device, and includes an attempt to take or to pursue in order to take. See Texas Parks and Wildlife Code 1.101
  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.