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(Code 1981, §11-5-114, enacted by Ga. L. 2002, p. 995, § 1.)
- Uniform Commercial Code (U.L.A.) § 5-114.
- Buyer was not an indispensable party to a seller's suit alleging that a bank breached a letter of credit by failing to honor its obligation under O.C.G.A. § 11-5-114 to pay a demand because: (1) the buyer's joinder was not necessary in order to afford complete relief between the seller and the bank; (2) the bank could file suit against the buyer for indemnification or implead the buyer in the current suit; and (3) the bank would not be subject to multiple inconsistent judgment obligations if the buyer were not joined. GE Credit Corp. of Tenn. v. First Nat'l Banc, Inc., F. Supp. 2d (S.D. Ga. Sept. 2, 2005).
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