Consideration.

  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)
  6. Consideration.

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Sec. 5105.

Consideration is not required to issue, amend, transfer, or cancel a letter of credit, advice, or confirmation.

History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1998, Act 488, Imd. Eff. Jan. 4, 1999


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