Ohio § 1305.02
Full text of Ohio Ohio Revised Code § 1305.02, with citation guidance and answers to common questions.
§ 1305.02.
(A) This chapter applies to letters of credit and to certain rights and obligations arising
out of transactions involving letters of credit. (B) The statement of a rule in this chapter does not by itself require, imply, or negate
application of the same or a different rule to a situation not provided for, or to
a person not specified, in this chapter. (C) With the exception of this division, divisions (A) and (D) of this section, divisions
(A)(9) and (10) of section 1305.01, division (D) of section 1305.05, and division
(D) of section 1305.13, and except to the extent prohibited in section 1301.302 and division (D) of section 1305.16 of the Revised Code , the effect of this chapter may be varied by agreement or by a provision stated or
incorporated by reference in an undertaking. A term in an agreement or undertaking generally excusing liability or generally
limiting remedies for failure to perform obligations is not sufficient to vary obligations
prescribed by this chapter. (D) Rights and obligations of an issuer to a beneficiary or a nominated person under
a letter of credit are independent of the existence, performance, or nonperformance
of a contract or arrangement out of which the letter of credit arises or which underlies
it, including contracts or arrangements between the issuer and the applicant and between
the applicant and the beneficiary.
Frequently Asked Questions About Ohio § 1305.02
What does Ohio Revised Code § 1305.02 cover?
Section 1305.02 is part of the Ohio Revised Code, the codified statutory law of Ohio. 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 Ohio § 1305.02?
A common citation format is "Ohio Revised Code § 1305.02" (Ohio). 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 Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 1305.02 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio 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 Ohio.