§ 22-509
52 words·~1 min read·
/md/commercial-law/22-509A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§22–509.
Unless the accommodated licensee is a consumer, a term in a financial accommodation contract providing that the accommodated licensee’s obligations to the financier are irrevocable and independent is enforceable. The obligations become irrevocable and independent upon the licensee’s acceptance of the license or the financier’s giving of value, whichever occurs first.