The 2023 Florida Statutes (including Special Session C)

Title XXXIX
COMMERCIAL RELATIONS

Chapter 672
UNIFORM COMMERCIAL CODE: SALES

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F.S. 672.325

672.325 “Letter of credit” term; “confirmed credit.”—

(1) Failure of the buyer seasonably to furnish an agreed letter of credit is a breach of the contract for sale.

(2) The delivery to seller of a proper letter of credit suspends the buyer’s obligation to pay. If the letter of credit is dishonored, the seller may on seasonable notification to the buyer require payment directly from him or her.

(3) Unless otherwise agreed the term “letter of credit” or “banker’s credit” in a contract for sale means an irrevocable credit issued by a financing agency of good repute and, where the shipment is overseas, of good international repute. The term “confirmed credit” means that the credit must also carry the direct obligation of such an agency which does business in the seller’s financial market.

History.—s. 1, ch. 65-254; s. 571, ch. 97-102.

Note.—s. 2-325, U.C.C.

F.S. 672.325 on Google Scholar

F.S. 672.325 on Casetext

Amendments to 672.325

Arrestable Offenses / Crimes under Fla. Stat. 672.325

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 672.325.

Annotations, Discussions, Cases:

Cases from cite.case.law:

J RLSTR M, v. D. ALDRIDGE, J. L. Mc J. T. M. W. St. J. Jr., 366 F. Supp. 3d 1205 (D. Or. 2018)

. . . . §§ 672.002 - 672.325, et seq. (the "Act"). Specifically, Plaintiff alleges that Or. Rev. . . . and holds a valid certificate to practice engineering in this state as provided under ORS 672.002 to 672.325 . . . Stat. § 672.002 - 672.325, et seq. , or any implementing regulations, against Plaintiff Järlström for . . .