§ 62A.5-110. Warranties
(1) If its 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 RCW 62A.5-109(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) of this section are in addition to warranties arising under Articles 3, 4, 7, and 8 because of the presentation or transfer of documents covered by any of those Articles.
[1997 c 56 § 11; 1965 ex.s. c 157 § 5-110.]
Sections: Previous 62A.5-103 62A.5-104 62A.5-105 62A.5-106 62A.5-107 62A.5-108 62A.5-109 62A.5-110 62A.5-111 62A.5-112 62A.5-113 62A.5-114 62A.5-115 62A.5-116 62A.5-117 NextLast modified: April 7, 2009