New Jersey § 12a:5-112
Full text of New Jersey New Jersey Statutes § 12a:5-112, with citation guidance and answers to common questions.
§ 12a:5-112.
a. Except as otherwise provided in 12A:5-113, unless a letter of credit provides that
it is transferable, the right of a beneficiary to draw or otherwise demand performance
under a letter of credit may not be transferred. b. Even if a letter of credit provides that it is transferable, the issuer may refuse
to recognize or carry out a transfer if: (1) the transfer would violate applicable law; or (2) the transferor or transferee has failed to comply with any requirement stated
in the letter of credit or any other requirement relating to transfer imposed by the
issuer which is within the standard practice referred to in subsection e. of 12A:5-108
or is otherwise reasonable under the circumstances.
Frequently Asked Questions About New Jersey § 12a:5-112
What does New Jersey Statutes § 12a:5-112 cover?
Section 12a:5-112 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 12a:5-112?
A common citation format is "New Jersey Statutes § 12a:5-112" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 12a:5-112 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.