Vermont Statutes Title 9 Sec. 7-509
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Terms Used In Vermont Statutes Title 9 Sec. 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
§ 7—509. Adequate compliance with commercial contract
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 title. (Added 2015, No. 51, § B.3, eff. June 3, 2015.)