NY UCC, Articles 1-5, Uniform Commercial Code, Index

UNIFORM COMMERCIAL CODE
ARTICLE 1, GENERAL PROVISIONS

PART 1 SHORT TITLE, CONSTRUCTION, APPLICATION AND SUBJECT MATTER OF THE ACT

Section 1--101. Short Title Section 1--102. Purposes; Rules of Construction; Variation by Agreement Section 1--103. Supplementary General Principles of Law Applicable Section 1--104. Construction Against Implicit Repeal Section 1--105. Territorial Application of the Act; Parties` Power to Choose Applicable Law Section 1--106. Remedies to Be Liberally Administered Section 1--107. Waiver or Renunciation of Claim or Right After Breach Section 1--108. Severability Section 1--109. Section Captions and Subsection Headings

PART 2 GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION

Section 1--201. General Definitions Section 1--202. Prima Facie Evidence by Third Party Documents Section 1--203. Obligation of Good Faith Section 1--204. Time; Reasonable Time; "Seasonably" Section 1--205. Course of Dealing and Usage of Trade Section 1--206. Statute of Frauds for Kinds of Personal Property Not Otherwise Covered Section 1--207. Performance or Acceptance Under Reservation of Rights Section 1--208. Option to Accelerate at Will Section 1--209. Subordinated obligations

ARTICLE 2, SALES

PART 1 SHORT TITLE, GENERAL CONSTRUCTION AND SUBJECT MATTER

Section 2--101. Short Title Section 2--102. Scope; Certain Security and Other Transactions Excluded From This Article Section 2--103. Definitions and Index of Definitions Section 2--104. Definitions: "Merchant"; "Between Merchants"; "Financing Agency" Section 2--105. Definitions: Transferability; "Goods"; "Future" Goods; "Lot"; "Commercial Unit" Section 2--106. Definitions. "Contract"; "Agreement"; "Contract for Sale"; "Sale"; "Present Sale"; "Conforming" to Contract; "Termination"; "Cancellation" Section 2--107. Goods to Be Severed From Realty: Recording

PART 2 FORM, FORMATION AND READJUSTMENT OF CONTRACT

Section 2--201. Formal Requirements; Statute of Frauds Section 2--202. Final Written Expression: Parol or Extrinsic Evidence Section 2--203. Seals Inoperative Section 2--204. Formation in General Section 2--205. Firm Offers Section 2--206. Offer and Acceptance in Formation of Contract Section 2--207. Additional Terms in Acceptance or Confirmation Section 2--208. Course of Performance or Practical Construction Section 2--209. Modification, Rescission and Waiver Section 2--210. Delegation of Performance; Assignment of Rights

PART 3 GENERAL OBLIGATION AND CONSTRUCTION OF CONTRACT

Section 2--301. General Obligation of Parties Section 2--302. Unconscionable Contract or Clause Section 2--303. Allocation or Division of Risks Section 2--304. Price Payable in Money, Goods, Realty, or Otherwise Section 2--305. Open Price Term Section 2--306. Output, Requirements and Exclusive Dealings Section 2--307. Delivery in Single Lot or Several Lots Section 2--308. Absence of Specified Place for Delivery Section 2--309. Absence of Specific Time Provisions; Notice of Termination Section 2--310. Open Time for Payment or Running of Credit; Authority to Ship Under Reservation Section 2--311. Options and Cooperation Respecting Performance Section 2--312. Warranty of Title and Against Infringement; Buyer`s Obligation Against Infringement Section 2--313. Express Warranties by Affirmation, Promise, Description, Sample Section 2--314. Implied Warranty: Merchantability; Usage of Trade Section 2--315. Implied Warranty: Fitness for Particular Purpose Section 2--316. Exclusion or Modification of Warranties Section 2--317. Cumulation and Conflict of Warranties Express or Implied Section 2--318. Third Party Beneficiaries of Warranties Express or Implied Section 2--319. F.O.B. and F.A.S. Terms Section 2--320. C.I.F. and C.& F. Terms Section 2--321. C.I.F. or C.& F.: "Net Landed Weights"; "Payment on Arrival"; Warranty of Condition on Arrival Section 2--322. Delivery "Ex-Ship" Section 2--323. Form of Bill of Lading Required in Overseas Shipment; "Overseas" Section 2--324. "No Arrival, No Sale" Term Section 2--325. "Letter of Credit" Term; "Confirmed Credit" Section 2--326. Sale on Approval and Sale or Return; Rights of Creditors Section 2--327. Special Incidents of Sale on Approval and Sale or Return Section 2--328. Sale by Auction

PART 4 TITLE, CREDITORS
AND GOOD FAITH PURCHASERS

Section 2--401. Passing of Title; Reservation for Security; Limited Application of This Section Section 2--402. Rights of Seller`s Creditors Against Sold Goods Section 2--403. Power to Transfer; Good Faith Purchase of Goods; "Entrusting"

PART 5 PERFORMANCE

Section 2--501. Insurable Interest in Goods; Manner of Identification of Goods Section 2--502. Buyer`s Right to Goods on Seller`s Repudiation, Failure to Deliver, or Insolvency Section 2--503. Manner of Seller`s Tender of Delivery Section 2--504. Shipment by Seller Section 2--505. Seller`s Shipment Under Reservation Section 2--506. Rights of Financing Agency Section 2--507. Effect of Seller`s Tender; Delivery on Condition Section 2--508. Cure by Seller of Improper Tender or Delivery; Replacement Section 2--509. Risk of Loss in the Absence of Breach Section 2--510. Effect of Breach on Risk of Loss Section 2--511. Tender of Payment by Buyer; Payment by Check Section 2--512. Payment by Buyer Before Inspection Section 2--513. Buyer`s Right to Inspection of Goods Section 2--514. When Documents Deliverable on Acceptance; When on Payment Section 2--515. Preserving Evidence of Goods in Dispute

PART 6 BREACH, REPUDIATION AND EXCUSE

Section 2--601. Buyer`s Rights on Improper Delivery Section 2--602. Manner and Effect of Rightful Rejection Section 2--603. Merchant Buyer`s Duties as to Rightfully Rejected Goods Section 2--604. Buyer`s Options as to Salvage of Rightfully Rejected Goods Section 2--605. Waiver of Buyer`s Objections by Failure to Particularize Section 2--606. What Constitutes Acceptance of Goods Section 2--607. Effect of Acceptance; Notice of Breach; Burden of Establishing Breach After Acceptance; Notice of Claim or Litigation to Person Answerable Over Section 2--608. Revocation of Acceptance in Whole or in Part Section 2--609. Right to Adequate Assurance of Performance Section 2--610. Anticipatory Repudiation Section 2--611. Retraction of Anticipatory Repudiation Section 2--612. "Installment Contract"; Breach Section 2--613. Casualty to Identified Goods Section 2--614. Substituted Performance Section 2--615. Excuse by Failure of Presupposed Conditions Section 2--616. Procedure on Notice Claiming Excuse

PART 7 REMEDIES

Section 2--701. Remedies for Breach of Collateral Contracts Not Impaired Section 2--702. Seller`s Remedies on Discovery of Buyer`s Insolvency Section 2--703. Seller`s Remedies in General Section 2--704. Seller`s Right to Identify Goods to the Contract Notwithstanding Breach or to Salvage Unfinished Goods Section 2--705. Seller`s Stoppage of Delivery in Transit or Otherwise Section 2--706. Seller`s Resale Including Contract for Resale Section 2--707. "Person in the Position of a Seller" Section 2--708. Seller`s Damages for Non-acceptance or Repudiation Section 2--709. Action for the Price Section 2--710. Seller`s Incidental Damages Section 2--711. Buyer`s Remedies in General; Buyer`s Security Interest in Rejected Goods Section 2--712. "Cover"; Buyer`s Procurement of Substitute Goods Section 2--713. Buyer`s Damages for Non-Delivery or Repudiation Section 2--714. Buyer`s Damages for Breach in Regard to Accepted Goods Section 2--715. Buyer`s Incidental and Consequential Damages Section 2--716. Buyer`s Right to Specific Performance or Replevin Section 2--717. Deduction of Damages From the Price Section 2--718. Liquidation or Limitation of Damages; Deposits Section 2--719. Contractual Modification or Limitation of Remedy Section 2--720. Effect of "Cancellation" or "Rescission" on Claims for Antecedent Breach Section 2--721. Remedies for Fraud Section 2--722. Who Can Sue Third Parties for Injury to Goods Section 2--723. Proof of Market Price: Time and Place Section 2--724. Admissibility of Market Quotations Section 2--725. Statute of Limitations in Contracts for Sale

ARTICLE 2-A, LEASES

PART 1 GENERAL PROVISIONS

Section 2-A-101. Short Title Section 2-A-102. Scope Section 2-A-103. Definitions and Index of Definitions Section 2-A-104. Leases Subject to Other Law Section 2-A-105. Territorial Application of Article to Goods Covered by Certificate of Title Section 2-A-106. Limitation on Power of Parties to Consumer Lease to Choose Applicable Law and Judicial Forum Section 2-A-107. Waiver or Renunciation of Claim or Right After Default Section 2-A-108. Unconscionability Section 2-A-109. Option to Accelerate at Will

PART 2 FORMATION AND CONSTRUCTION
OF LEASE CONTRACT

Section 2-A-201. Statute of Frauds Section 2-A-202. Final Written Expression: Parol or Extrinsic Evidence Section 2-A-203. Seals Inoperative Section 2-A-204. Formation in General Section 2-A-205. Firm Offers Section 2-A-206. Offer and Acceptance in Formation of Lease Contract Section 2-A-207. Course of Performance or Practical Construction Section 2-A-208. Modification, Rescission and Waiver Section 2-A-209. Lessee Under Finance Lease as Beneficiary of Supply Contract Section 2-A-210. Express Warranties Section 2-A-211. Warranties Against Interference and Against Infringement; Lessee`s Obligation Against Infringement Section 2-A-212. Implied Warranty of Merchantability Section 2-A-213. Implied Warranty of Fitness for Particular Purpose Section 2-A-214. Exclusion or Modification of Warranties Section 2-A-215. Cumulation and Conflict of Warranties Express or Implied Section 2-A-216. Third-Party Beneficiaries of Express or Implied Warranties Section 2-A-217. Identification Section 2-A-218. Insurance and Proceeds Section 2-A-219. Risk of Loss Section 2-A-220. Effect of Default on Risk of Loss Section 2-A-221. Casualty to Identified Goods

PART 3 EFFECT OF LEASE CONTRACT

Section 2-A-301. Enforceability of Lease Contract Section 2-A-302. Title to and Possession of Goods Section 2-A-303. Alienability of Party`s Interest Under Lease Contract or of Lessor`s Residual Interest in Goods; Delegation of Performance; Transfer of Rights Section 2-A-304. Subsequent Lease of Goods by Lessor Section 2-A-305. Sale or Sublease of Goods by Lessee Section 2-A-306. Priority of Certain Liens Arising by Operation of Law Section 2-A-307. Priority of Liens Arising by Attachment or Levy on, Security Interests in, and Other Claims to Goods Section 2-A-308. Special Rights of Creditors Section 2-A-309. Lessor`s and Lessee`s Rights When Goods Become Fixtures Section 2-A-310. Lessor`s and Lessee`s Rights When Goods Become Accessions Section 2-A-311. Priority Subject to Subordination

PART 4 PERFORMANCE OF LEASE CONTRACT: REPUDIATED, SUBSTITUTED AND EXCUSED

Section 2-A-401. Insecurity: Adequate Assurance of Performance Section 2-A-402. Anticipatory Repudiation Section 2-A-403. Retraction of Anticipatory Repudiation Section 2-A-404. Substituted Performance Section 2-A-405. Excused Performance Section 2-A-406. Procedure on Excused Performance Section 2-A-407. Irrevocable Promises: Finance Leases

PART 5 DEFAULT A. IN GENERAL

Section 2-A-501. Default: Procedure Section 2-A-502. Notice After Default Section 2-A-503. Modification or Impairment of Rights and Remedies Section 2-A-504. Liquidation of Damages Section 2-A-505. Cancellation and Termination and Effect of Cancellation, Termination, Rescission, or Fraud on Rights and Remedies Section 2-A-506. Statute of Limitations Section 2-A-507. Proof of Market Rent: Time and Place B. DEFAULT BY LESSOR Section 2-A-508. Lessee`s Remedies Section 2-A-509. Lessee`s Rights on Improper Delivery: Rightful Rejection Section 2-A-510. Installment Lease Contracts: Rejection and Default Section 2-A-511. Merchant Lessee`s Duties as to Rightfully Rejected Goods Section 2-A-512. Lessee`s Duties as to Rightfully Rejected Goods Section 2-A-513. Cure by Lessor of Improper Tender or Delivery; Replacement Section 2-A-514. Waiver of Lessee`s Objections Section 2-A-515. Acceptance of Goods Section 2-A-516. Effect of Acceptance of Goods; Notice of Default; Burden of Establishing Default After Acceptance; Notice of Claim or Litigation to Person Answerable Over Section 2-A-517. Revocation of Acceptance of Goods Section 2-A-518. Cover; Substitute Goods Section 2-A-519. Lessee`s Damages for Non-delivery, Repudiation, Default, and Breach of Warranty in Regard to Accepted Goods Section 2-A-520. Lessee`s Incidental and Consequential Damages Section 2-A-521. Lessee`s Right to Specific Performance or Replevin Section 2-A-522. Lessee`s Right to Goods on Lessor`s Insolvency C. DEFAULT BY LESSEE Section 2-A-523. Lessor`s Remedies Section 2-A-524. Lessor`s Right to Identify Goods to Lease Contract Section 2-A-525. Lessor`s Right to Possession of Goods Section 2-A-526. Lessor`s Stoppage of Delivery in Transit or Otherwise Section 2-A-527. Lessor`s Rights to Dispose of Goods Section 2-A-528. Lessor`s Damages for Non-acceptance, Failure to Pay, Repudiation, or Other Default Section 2-A-529. Lessor`s Action for the Rent Section 2-A-530. Lessor`s Incidental Damages Section 2-A-531. Standing to Sue Third Parties for Injury to Goods Section 2-A-532. Lessor`s Rights to Residual Interest

ARTICLE 3 COMMERCIAL PAPER

PART 1 SHORT TITLE, FORM AND INTERPRETATION

Section 3--101. Short Title. Section 3--102. Definitions and Index of Definitions Section 3--103. Limitations on Scope of Article Section 3--104. Form of Negotiable Instruments; "Draft"; "Check"; "Certificate of Deposit"; "Note" Section 3--105. When Promise or Order Unconditional Section 3--106. Sum Certain Section 3--107. Money Section 3--108. Payable on Demand Section 3--109. Definite Time Section 3--110. Payable to Order Section 3--111. Payable to Bearer Section 3--112. Terms and Omissions Not Affecting Negotiability Section 3--113. Seal Section 3--114. Date, Antedating, Postdating Section 3--115. Incomplete Instruments Section 3--116. Instruments Payable to Two or More Persons Section 3--117. Instruments Payable With Words of Description Section 3--118. Ambiguous Terms and Rules of Construction Section 3--119. Other Writings Affecting Instrument Section 3--120. Instruments "Payable Through" Bank Section 3--121. Instruments Payable at Bank Section 3--122. Accrual of Cause of Action

PART 2 TRANSFER AND NEGOTIATION

Section 3--201. Transfer: Right to Indorsement Section 3--202. Negotiation Section 3--203. Wrong or Misspelled Name Section 3--204. Special Indorsement; Blank Indorsement Section 3--205. Restrictive Indorsements Section 3--206. Effect of Restrictive Indorsement Section 3--207. Negotiation Effective Although It May Be Rescinded Section 3--208. Reacquisition

PART 3 RIGHTS OF A HOLDER

Section 3--301. Rights of a Holder Section 3--302. Holder in Due Course Section 3--303. Taking for Value Section 3--304. Notice to Purchaser Section 3--305. Rights of a Holder in Due Course Section 3--306. Rights of One Not Holder in Due Course Section 3--307. Burden of Establishing Signatures, Defenses and Due Course

PART 4 LIABILITY OF PARTIES

Section 3--401. Signature Section 3--402. Signature in Ambiguous Capacity Section 3--403. Signature by Authorized Representative Section 3--404. Unauthorized Signatures Section 3--405. Impostors; Signature in Name of Payee Section 3--406. Negligence Contributing to Alteration or Unauthorized Signature Section 3--407. Alteration Section 3--408. Consideration Section 3--409. Draft Not an Assignment Section 3--410. Definition and Operation of Acceptance Section 3--411. Certification of a Check Section 3--412. Acceptance Varying Draft Section 3--413. Contract of Maker, Drawer and Acceptor Section 3--414. Contract of Indorser; Order of Liability Section 3--415. Contract of Accommodation Party Section 3--416. Contract of Guarantor Section 3--417. Warranties on Presentment and Transfer Section 3--418. Finality of Payment or Acceptance Section 3--419. Conversion of Instrument; Innocent Representative

PART 5 PRESENTMENT, NOTICE
OF DISHONOR AND PROTEST

Section 3--501. When Presentment, Notice of Dishonor, and Protest Necessary or Permissible Section 3--502. Unexcused Delay; Discharge Section 3--503. Time of Presentment Section 3--504. How Presentment Made Section 3--505. Rights of Party to Whom Presentment Is Made Section 3--506. Time Allowed for Acceptance or Payment Section 3--507. Dishonor; Holder`s Right of Recourse; Term Allowing Re-Presentment Section 3--508. Notice of Dishonor Section 3--509. Protest; Noting for Protest Section 3--510. Evidence of Dishonor and Notice of Dishonor Section 3--511. Waived or Excused Presentment, Protest or Notice of Dishonor or Delay Therein

PART 6 DISCHARGE

Section 3--601. Discharge of Parties Section 3--602. Effect of Discharge Against Holder in Due Course Section 3--603. Payment or Satisfaction Section 3--604. Tender of Payment Section 3--605. Cancellation and Renunciation Section 3--606. Impairment of Recourse or of Collateral

PART 7 ADVICE OF INTERNATIONAL SIGHT DRAFT

Section 3--701. Letter of Advice of International Sight Draft

PART 8 MISCELLANEOUS

Section 3--801. Drafts in a Set Section 3--802. Effect of Instrument on Obligation for Which It Is Given Section 3--803. Notice to Third Party Section 3--804. Lost, Destroyed or Stolen Instruments Section 3--805. Instruments Not Payable to Order or to Bearer

ARTICLE 4 BANK DEPOSITS AND COLLECTIONS

PART 1 GENERAL PROVISIONS AND DEFINITIONS

Section 4--101. Short Title Section 4--102. Applicability Section 4--103. Variation by Agreement; Measure of Damages; Certain Action Constituting Ordinary Care Section 4--104. Definitions and Index of Definitions Section 4--105. "Depositary Bank"; "Intermediary Bank"; "Collecting Bank"; "Payor Bank"; "Presenting Bank"; "Remitting Bank" Section 4--106. Separate Office of a Bank Section 4--107. Time of Receipt of Items Section 4--108. Delays Section 4--109. Process of Posting

PART 2 COLLECTION OF ITEMS: DEPOSITARY AND COLLECTING BANKS

Section 4--201. Presumption and Duration of Agency Status of Collecting Banks and Provisional Status of Credits; Applicability of Article; Item Indorsed "Pay Any Bank" Section 4--202. Responsibility for Collection; When Action Seasonable Section 4--203. Effect of Instructions Section 4--204. Methods of Sending and Presenting; Sending Direct to Payor Bank Section 4--205. Supplying Missing Indorsement; No Notice From Prior Indorsement Section 4--206. Transfer Between Banks Section 4--207. Warranties of Customer and Collecting Bank on Transfer or Presentment of Items; Time for Claims Section 4--208. Security Interest of Collecting Bank in Items, Accompanying Documents and Proceeds Section 4--209. When Bank Gives Value for Purposes of Holder in Due Course Section 4--210. Presentment by Notice of Item Not Payable by, Through or at a Bank; Liability of Secondary Parties Section 4--211. Media of Remittance; Provisional and Final Settlement in Remittance Cases Section 4--212. Right of Charge-Back or Refund Section 4--213. Final Payment of Item by Payor Bank; When Provisional Debits and Credits Become Final; When Certain Credits Become Available for Withdrawal Section 4--214. Insolvency and Preference

PART 3 COLLECTION OF ITEMS: PAYOR BANKS

Section 4--301. Deferred Posting; Recovery of Payment by Return of Items; Time of Dishonor Section 4--302. Payor Bank`s Responsibility for Late Return of Item Section 4--303. When Items Subject to Notice, Stop-Order, Legal Process or Setoff; Order in Which Items May Be Charged or Certified

PART 4 RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER

Section 4--401. When Bank May Charge Customer`s Account Section 4--402. Bank`s Liability to Customer for Wrongful Dishonor Section 4--403. Customer`s Right to Stop Payment; Burden of Proof of Loss Section 4--404. Bank Not Obligated to Pay Check More Than Six Months Old Section 4--405. Death or Incompetence of Customer Section 4--406. Customer`s Duty to Discover and Report Unauthorized Signature or Alteration Section 4--407. Payor Bank`s Right to Subrogation on Improper Payment Section 4--408. Rights and Liabilities of Remitter or Payee With Respect to Cashier`s Check, Teller`s Check and Certified Check

PART 5 COLLECTION OF DOCUMENTARY DRAFTS

Section 4--501. Handling of Documentary Drafts; Duty to Send for Presentment and to Notify Customer of Dishonor Section 4--502. Presentment of "On Arrival" Drafts Section 4--503. Responsibility of Presenting Bank for Documents and Goods; Report of Reasons for Dishonor; Referee in Case of Need Section 4--504. Privilege of Presenting Bank to Deal With Goods; Security Interest for Expenses

ARTICLE 4-A, FUNDS TRANSFERS

PART 1 SUBJECT MATTER AND DEFINITIONS

Section 4-A-101. Short Title Section 4-A-102. Subject Matter Section 4-A-103. Payment Order-Definitions Section 4-A-104. Funds Transfer-Definitions Section 4-A-105. Other Definitions Section 4-A-106. Time Payment Order is Received Section 4-A-107. Federal Reserve Regulations and Operating Circulars Section 4-A-108. Exclusion of Consumer Transactions Governed by Federal Law

PART 2 ISSUE AND ACCEPTANCE OF PAYMENT ORDER

Section 4-A-201. Security Procedure Section 4-A-202. Authorized and Verified Payment Orders Section 4-A-203. Unenforceability of Certain Verified Payment Orders Section 4-A-204. Refund of Payment and Duty of Customer to Report With Respect to Unauthorized Payment Order Section 4-A-205. Erroneous Payment Orders Section 4-A-206. Transmission of Payment Order Through Funds-Transfer or Other Communication System Section 4-A-207. Misdescription of Beneficiary Section 4-A-208. Misdescription of Intermediary Bank or Beneficiary`s Bank Section 4-A-209. Acceptance of Payment Order Section 4-A-210. Rejection of Payment Order Section 4-A-211. Cancellation and Amendment of Payment Order Section 4-A-212. Liability and Duty of Receiving Bank Regarding Unaccepted Payment Order

PART 3 EXECUTION OF SENDER`S PAYMENT
ORDER BY RECEIVING BANK

Section 4-A-301. Execution and Execution Date Section 4-A-302. Obligation of Receiving Bank in Execution of Payment Order Section 4-A-303. Erroneous Execution of Payment Order Section 4-A-304. Duty of Sender to Report Erroneously Executed Payment Order Section 4-A-305. Liability for Late or Improper Execution or Failure to Execute Payment Order

PART 4 PAYMENT

Section 4-A-401. Payment Date Section 4-A-402. Obligation of Sender to Pay Receiving Bank Section 4-A-403. Payment by Sender to Receiving Bank Section 4-A-404. Obligation of Beneficiary`s Bank to Pay and Give Notice to Beneficiary Section 4-A-405. Payment by Beneficiary`s Bank to Beneficiary Section 4-A-406. Payment by Originator to Beneficiary; Discharge of Underlying Obligation

PART 5 MISCELLANEOUS PROVISIONS

Section 4-A-501. Variation by Agreement and Effect of Funds-Transfer System Rule Section 4-A-502. Creditor Process Served on Receiving Bank; Set Off by Beneficiary`s Bank Section 4-A-503. Injunction or Restraining Order with Respect to Funds Transfer Section 4-A-504. Order in Which Items and Payment Orders May Be Charged to Account; Order of Withdrawals From Account Section 4-A-505. Preclusion of Objection to Debit of Customer`s Account Section 4-A-506. Rate of Interest Section 4-A-507. Choice of Law

ARTICLE 5 LETTERS OF CREDIT

Section 5--101. Short Title Section 5--102. Scope Section 5--103. Definitions Section 5--104. Formal Requirements; Signing Section 5--105. Consideration Section 5--106. Time and Effect of Establishment of Credit Section 5--107. Advice of Credit; Confirmation; Error in Statement of Terms Section 5--108. "Notation Credit"; Exhaustion of Credit Section 5--109. Issuer`s Obligation to Its Customer Section 5--110. Availability of Credit in Portions; Presenter`s Reservation of Lien or Claim Section 5--111. Warranties on Transfer and Presentment Section 5--112. Time Allowed for Honor or Rejection; Withholding Honor or Rejection by Consent; "Presenter" Section 5--113. Indemnities Section 5--114. Issuer`s Duty and Privilege to Honor; Right to Reimbursement Section 5--115. Remedy for Improper Dishonor or Anticipatory Repudiation Section 5--116. Transfer and Assignment Section 5--117. Insolvency of Bank Holding Funds for Documentary Credit Section 5--118. Security Interest of Issuer or Nominated Person Section 5--119. Applicability Section 5--120. Savings clause

NY UCC