Ask Reggi Your Question Now
Can you summarize NHRS 382-A:5-102?
UNIFORM COMMERCIAL CODE > Definitions.
Short Summary
This legal document is part of the New Hampshire Revised Statutes and falls under the Uniform Commercial Code (Chapter 382-A). It governs commercial transactions and provides definitions for various terms used in the context of letters of credit. The document defines terms such as adviser, applicant, beneficiary, confirmer, dishonor, document, good faith, honor, issuer, letter of credit, nominated person, presentation, presenter, record, and successor of a beneficiary. It also references definitions from other articles within the Uniform Commercial Code. The document does not mention any specific penalties for non-compliance. Overall, it establishes a framework for understanding and interpreting the legal aspects of letters of credit in commercial transactions.
Whom does it apply to?
Persons involved in commercial transactions
What does it govern?
Uniform Commercial Code
What are exemptions?
Individuals who make an engagement for personal, family, or household purposes
What are the Penalties?
No specific penalties mentioned
Jurisdiction
New Hampshire