Wyoming Statutes
§ 34.1-2-325 — "Letter of credit" term; "confirmed credit"
Wyoming § 34.1-2-325
This text of Wyoming § 34.1-2-325 ("Letter of credit" term; "confirmed credit") is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Wyo. Stat. Ann. § 34.1-2-325 (2026).
Text
(a)Failure of the buyer seasonably to furnish an agreed
letter of credit is a breach of the contract for sale.
(b)The delivery to seller of a proper letter of credit
suspends the buyer's obligation to pay. If the letter of credit
is dishonored, the seller may on seasonable notification to the
buyer require payment directly from him.
(c)Unless otherwise agreed the term "letter of credit" or
"banker's credit" in a contract for sale means an irrevocable
credit issued by a financing agency of good repute and, where
the shipment is overseas, of good international repute. The term
"confirmed credit" means that the credit must also carry the
direct obligation of such an agency which does business in the
seller's financial market.
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Nearby Sections
15
§ 34.1-1-101
Short titles§ 34.1-1-102
Scope of article§ 34.1-1-104
Construction against implied repeal§ 34.1-1-105
Severability§ 34.1-1-106
Use of singular and plural; gender§ 34.1-1-107
Section captions§ 34.1-1-201
General definitions§ 34.1-1-202
Notice; knowledge§ 34.1-1-203
Lease distinguished from security interest§ 34.1-1-204
Value§ 34.1-1-205
Reasonable time; seasonableness§ 34.1-1-206
PresumptionsCite This Page — Counsel Stack
Bluebook (online)
Wyoming § 34.1-2-325, Counsel Stack Legal Research, https://law.counselstack.com/statute/wy/34.1-2-325.