O.C.G.A.
O.C.G.A.

O.C.G.A. § 11-5-105 (2019)

Consideration

✓ O.C.G.A. (archive.org 2024 item): print volumes of 2004-2024, per-volume vintage; older volumes partly replaced by 2019 Release 73 text; no 2025 or 2026 Acts
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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Consideration is not required to issue, amend, transfer, or cancel a letter of credit, advice, or confirmation.

History

Code 1981, § 11-5-105, enacted by Ga. L. 2002, p. 995, § 1.

Annotations

JUDICIAL DECISIONS

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.

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

RESEARCH REFERENCES

Am. Jur. 2d. - 50 Am. Jur. 2d, Letters of Credit, and Credit Cards, § 16.

U.L.A. - Uniform Commercial Code (U.L.A.) § 5-105.