Vermont § 325 - § 2—325.
Full text of Vermont Vermont Statutes Online § 325 — § 2—325., with citation guidance and answers to common questions.
§ 325. § 2—325.
- “Letter of credit” term; “confirmed credit” (1) Failure of the buyer seasonably to furnish an agreed letter of credit is a breach
of the contract for sale. (2) The delivery to seller of a proper letter of credit suspends the buyer’s obligation
to pay. If the letter of credit is dishonored, the seller may on seasonable notification
to the buyer require payment directly from him or her. (3) Unless otherwise agreed the term “letter of credit” or “banker’s credit” in a contract
for sale means an irrevocable credit issued by a financing agency of good repute and,
where the shipment is overseas, of good international repute. The term “confirmed
credit” means that the credit must also carry the direct obligation of such an agency
which does business in the seller’s financial market.
Frequently Asked Questions About Vermont § 325
What does Vermont Statutes Online § 325 cover?
Section 325 ("§ 2—325.") is part of the Vermont Statutes Online, the codified statutory law of Vermont. 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 Vermont § 325?
A common citation format is "Vermont Statutes Online § 325" (Vermont). 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 Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 325 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont 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 Vermont.