Letters of Credit (440.5101...440.5118)

  1. Law
  2. Michigan Compiled Laws
  3. Uniform Commercial Code
  4. 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)
  5. Letters of Credit (440.5101...440.5118)

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Section
440.5101

Uniform Commercial Code—letters of Credit; Short Title of Article.

Section
440.5102

Definitions.

Section
440.5103

Letters of Credit; Scope of Article.

Section
440.5104

Issuance; Authentication.

Section
440.5105

Consideration.

Section
440.5106

Credit; Issuance; Enforcement; Revocation; Expiration.

Section
440.5107

Confirmation; Rights and Obligations; Request to Advise; Notice to Transferee Beneficiary.

Section
440.5108

Honoring or Dishonoring Presentation.

Section
440.5109

Forged or Fraudulent Document; Injunction; Findings of Court.

Section
440.5110

Warranties on Presentment or Transfer.

Section
440.5111

Wrongful Dishonor, Repudiation, or Breach; Rights of Claimant or Applicant; Liability of Issuer, Nominated Person, or Adviser; Attorney Fees; Liquidated Damages.

Section
440.5112

Right to Draw or Demand Performance Under Letter of Credit; Transfer.

Section
440.5113

Rights of Successor Beneficiary.

Section
440.5114

Proceeds of Letter of Credit.

Section
440.5115

Commencement of Action.

Section
440.5116

Jurisdiction; Forum.

Section
440.5117

Rights of Subrogation.

Section
440.5118

Document Presented Under Letter of Credit; Security Interest of Issuer or Nominated Person.