1. The Laws of New York
  2. Consolidated Laws
  3. Uniform Commercial Code
  4. Article 5: Letters of Credit


Section 5-110 Warranties

Uniform Commercial Code (UCC)

Section 5--110. 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 subsection (a) of section 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 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.