675.110 Warranties.—
(1) If a beneficiary’s presentation is honored, the beneficiary warrants:
(a) 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 s. 675.109(1); and
(b) 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.
(2) The warranties in subsection (1) are in addition to warranties arising under chapters 673, 674, 677, and 678 because of the presentation or transfer of documents covered by any of those chapters.
History.—s. 1, ch. 65-254; s. 1, ch. 99-137.
Note.—s. 5-110, U.C.C.
Section: Previous 675.103 675.104 675.105 675.106 675.107 675.108 675.109 675.110 675.111 675.112 675.113 675.114 675.115 675.116 675.117 NextLast modified: September 23, 2016