47-5110. Warranties
A. If its presentation is honored, the beneficiary warrants:
1. To the issuer, any other person to whom presentation is made and the applicant that there is no fraud or forgery of the kind described in section 47-5109, subsection A; and
2. To the applicant that the drawing does not violate any agreement between the applicant and beneficiary or any other agreement intended by them to be augmented by the letter of credit.
B. The warranties in subsection A of this section are in addition to warranties arising under chapters 3, 4, 7 and 8 of this title because of the presentation or transfer of documents covered by any of those chapters.
Section: Previous 47-5103 47-5104 47-5105 47-5106 47-5107 47-5108 47-5109 47-5110 47-5111 47-5112 47-5113 47-5114 47-5115 47-5116 47-5117 NextLast modified: October 13, 2016