South Carolina Code 36-7-509. Adequate compliance with commercial contract
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Terms Used In South Carolina Code 36-7-509
- Contract: A legal written agreement that becomes binding when signed.
- Document: means document of title as defined in the general definitions in Chapter 1 of this title. See South Carolina Code 36-7-102
- 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
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 the chapters on sales (Chapter 2), leases (Chapter 2A), and on letters of credit (Chapter 5).