<?xml version="1.0"?>
<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>82662</law_id><section_number>59.1-505.9</section_number><catch_line>Financing arrangements; obligations irrevocable</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="59.1">Trade and Commerce</unit><unit label="chapter" level="2" order_by="1" identifier="43">Uniform Computer Information Transactions Act</unit><unit label="article" level="3" order_by="1" identifier="5">Transfer of Interests and Rights</unit></structure><text>
						<section><p>Unless the accommodated licensee is a consumer, a term in a financial accommodation <span class="dictionary">contract</span> providing that the accommodated licensee&#x2019;s obligations to the financier are irrevocable and independent is enforceable. The obligations become irrevocable and independent upon the licensee&#x2019;s acceptance of the license or the financier&#x2019;s giving of value, whichever occurs first.</p></section></text><history>2000, cc. 101, 996.</history><metadata></metadata></law>
