Louisiana Statutes
§ 10:5-105 — Consideration
Louisiana·Title 10 Commercial Laws
Consideration is not required to issue, amend, transfer, or cancel a letter of credit, advice, or confirmation.
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Legislative History
Added by Acts 1974, No. 92, §1, eff. Jan. 1, 1975; Acts 1999, No. 171, §1, eff. Jan. 1, 2000.
Nearby Sections
15
§ 10:5-101
§ 10:5-101§ 10:5-102
Definitions§ 10:5-103
Scope§ 10:5-104
Formal requirements§ 10:5-105
Consideration§ 10:5-107
Confirmor, nominated person, and adviser§ 10:5-108
Issuer's rights and obligations§ 10:5-109
Fraud and forgery§ 10:5-110
Warranties§ 10:5-111
Remedies§ 10:5-112
Transfer of letter of credit§ 10:5-113
Transfer by operation of law§ 10:5-114
Assignment of proceeds§ 10:5-115
Statute of limitations