There is a newer version of the Connecticut General Statutes
2005 Connecticut Code - Sec. 42a-2-325. "Letter of credit" term; "confirmed credit".
Sec. 42a-2-325. "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.
(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.
(1959, P.A. 133, S. 2-325.)
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