(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 subsection (a) of Code Section 11-5-109; 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 Code section are in addition to warranties arising under Articles 3, 4, 7, and 8 of this title because of the presentation or transfer of documents covered by any of those articles.
Section: Previous 11-5-103 11-5-104 11-5-105 11-5-106 11-5-107 11-5-108 11-5-109 11-5-110 11-5-111 11-5-112 11-5-113 11-5-114 11-5-115 11-5-116 11-5-117 NextLast modified: October 14, 2016