Maryland Code, COMMERCIAL LAW 22-509
Current as of: 2023 | Check for updates
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Terms Used In Maryland Code, COMMERCIAL LAW 22-509
- Contract: A legal written agreement that becomes binding when signed.
Unless the accommodated licensee is a consumer, a term in a financial accommodation contract providing that the accommodated licensee’s obligations to the financier are irrevocable and independent is enforceable. The obligations become irrevocable and independent upon the licensee’s acceptance of the license or the financier’s giving of value, whichever occurs first.