Ohio Code 1305.03 – Formal requirements – UCC 5-104
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A letter of credit, confirmation, advice, transfer, amendment, or cancellation may be issued in any form that is a record and is authenticated by a signature or in accordance with the agreement of the parties or the standard practice referred to in division (E) of section 1305.07 of the Revised Code.
Terms Used In Ohio Code 1305.03
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Letter of credit: means a definite undertaking that satisfies the requirements of section 1305. See Ohio Code 1305.01
- Record: means information that is inscribed on a tangible medium, or that is stored in an electronic or other medium and is retrievable in perceivable form. See Ohio Code 1305.01