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Florida Statute 672.325 | Lawyer Caselaw & Research
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The 2024 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS
Chapter 672
UNIFORM COMMERCIAL CODE: SALES
View Entire Chapter
F.S. 672.325
672.325 “Letter of credit” term; “confirmed credit.”
(1) Failure of the buyer seasonably to furnish an agreed letter of credit is a breach of the contract for sale.
(2) 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 or her.
(3) 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.
History.s. 1, ch. 65-254; s. 571, ch. 97-102.
Note.s. 2-325, U.C.C.

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Amendments to 672.325


Arrestable Offenses / Crimes under Fla. Stat. 672.325
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Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 672.325.



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