State Codes and Statutes

Statutes > New-york > Ucc > Article-5 > 5-110

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.

State Codes and Statutes

Statutes > New-york > Ucc > Article-5 > 5-110

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.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Ucc > Article-5 > 5-110

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.