The drafting history of UCC Article 5 / John F. Dolan, Distinguished Professor Emeritus, Wayne State University Law School.

Format:

Book

Author/Creator:

Dolan, John F., author.

Language:

English

Subjects (All):

Letters of credit--United States.

Letters of credit.

United States.

Uniform commercial code. Letters of credit.

Uniform commercial code.

Physical Description:

xix, 270 pages ; 26 cm

Place of Publication:

Durham, North Carolina : Carolina Academic Press, [2016]

Summary:

[This book] illustrates each section of UCC Article 5 (the letter of credit article) with historical analysis that explains each sections purpose. It is folly to read Article 5 literally, and it is disastrous to see it as characterizing the letter of credit as a unique form of contract. The historical exegesis the book presents makes it clear that letters of credit are unique, idiosyncratic undertakings for which the Article fashions unique, idiosyncratic rules. There was, moreover, an abundant body of common law that preceded codification of letter of credit law in the Uniform Commercial Code. The book includes that rich common law history, setting it forth section by section. It enhances the common law explication with drafting history and with explanations by serious letter of credit commentators. -- Back cover.

Contents:

Section 5-101 : Short title

Section 5-102 : Definitions

Section 5-103 : Scope

Section 5-104 : Formal requirements

Section 5-105 : Consideration

Section 5-106 : Issuance, amendment, cancellation, and duration

Section 5-107 : Confirmer, nominated person, and adviser

Section 5-108 : Issuer's rights and obligations

Section 5-109 : Fraud and forgery

Section 5-110 : Warranties

Section 5-111 : Remedies

Sections 5-112, 5-113, and 5-114 : Transfer and assignment of letters of credit

Section 5-115 : Statute of limitations

Section 5-116 : Choice of law and forum

Section 5-117 : Subrogation

Section 5-118 : Security interest of issuer or nominated person

Repealed sections.

Notes:

Includes bibliographical references.

ISBN:

9781611638141

1611638143

OCLC:

922836499