Letter-of-Credit Rights
Learn about the definition for this legal term.
What is Letter-of-Credit Rights?
A right to payment or performance under a letter of credit, whether or not the beneficiary has demanded payment or performance. U.C.C. § 9-102 (51).
Further Reading
For more detailed information, see our related Security Transactions And Mortgages terms:
Pass the Bar, Guaranteed
BarPrepHero Premium offers the most complete collection of real bar exam questions licensed directly from NCBE (the organization that writes the exam).