Idaho § 28-5-103 SCOPE

Idaho Statutes

§ 28-5-103 — SCOPE

Idaho § 28-5-103

Title 28COMMERCIAL TRANSACTIONS

Ch. 5UNIFORM COMMERCIAL CODE — LETTERS OF CREDIT

This text of Idaho § 28-5-103 (SCOPE) is published on Counsel Stack Legal Research, covering Idaho primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Idaho Code § 28-5-103 (2026).

Text

(1)This chapter applies to letters of credit and to certain rights and obligations arising out of transactions involving letters of credit.

(2)The statement of a rule in this chapter does not by itself require, imply, or negate application of the same or a different rule to a situation not provided for, or to a person not specified, in this chapter.

(3)With the exception of this subsection, subsections (1) and (2), sections 28-5-102 (1)(i) and (1)(j), 28-5-106 (4) and 28-5-114 (4), and except to the extent prohibited in sections 28-1-302 and 28-5-117 (4), the effect of this chapter may be varied by agreement or by a provision stated or incorporated by reference in an undertaking. A term in an agreement or undertaking generally excusing liability or generally limiting remedies for failur

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(1) This chapter applies to letters of credit and to certain rights and obligations arising out of transactions involving letters of credit.
(2) The statement of a rule in this chapter does not by itself require, imply, or negate application of the same or a different rule to a situation not provided for, or to a person not specified, in this chapter.
(3) With the exception of this subsection, subsections (1) and (2), sections 28-5-102 (1)(i) and (1)(j), 28-5-106 (4) and 28-5-114 (4), and except to the extent prohibited in sections 28-1-302 and 28-5-117 (4), the effect of this chapter may be varied by agreement or by a provision stated or incorporated by reference in an undertaking. A term in an agreement or undertaking generally excusing liability or generally limiting remedies for failure to perform obligations is not sufficient to vary obligations prescribed by this chapter.
(4) Rights and obligations of an issuer to a beneficiary or a nominated person under a letter of credit are independent of the existence, performance, or nonperformance of a contract or arrangement out of which the letter of credit arises or which underlies it, including contracts or arrangements between the issuer and the applicant and between the applicant and the beneficiary.