Kentucky Statutes 355.7-509 – Adequate compliance with commercial contract
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Whether a document of title is adequate to fulfill the obligations of a contract for sale, a contract for lease, or the conditions of a letter of credit is determined by Article 2, 2A, or
5 of this chapter.
Effective: July 12, 2012
History: Repealed and reenacted 2012 Ky. Acts ch. 132, sec. 38, effective July 12,
2012. — Created 1958 Ky. Acts ch. 77, sec. 7-509, effective July 1, 1960.
5 of this chapter.
Terms Used In Kentucky Statutes 355.7-509
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Effective: July 12, 2012
History: Repealed and reenacted 2012 Ky. Acts ch. 132, sec. 38, effective July 12,
2012. — Created 1958 Ky. Acts ch. 77, sec. 7-509, effective July 1, 1960.