Editor's notes.

- In light of the similarity of the provisions, decisions under former Article 5 are included in the annotations for this Code section.

Contract law applicability.

- Letters of credit, being contracts, are subject to same general principles applicable to other written contracts. First Nat'l Bank v. Wynne, 149 Ga. App. 811, 256 S.E.2d 383 (1979).

Silent confirmation of a letter of credit may serve a purpose similar to that of a former Article 5 confirmation by providing the beneficiary with an additional source of payment; however, it involves different parties and creates different rights and obligations and, clearly, a silent confirmation is not a former Article 5 confirmation and falls outside the operation of the UCC. Dibrell Bros. Int'l v. Banca Nazionale Del Lavoro, 38 F.3d 1571 (11th Cir. 1994).

Former Article 5 did not preclude recovery for breach of contract to silently confirm on a common law breach of contract theory. Dibrell Bros. Int'l v. Banca Nazionale Del Lavoro, 38 F.3d 1571 (11th Cir. 1994).

Cited in Barclays Bank v. Mercantile Nat'l Bank, 481 F.2d 1224 (5th Cir. 1973).

U.L.A.

- Uniform Commercial Code (U.L.A.) § 5-101.

ALR.

- What is a letter of credit under UCC §§ 5-102, 5-103, 44 A.L.R.4th 172.