Section 5-1110 - Warranties(1). If its presentation is honored, the beneficiary warrants to: (a). 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 section 5-1109, subsection (1); and [1997, c. 429, Pt. A, §2(NEW); 1997, c. 429, Pt. A, §4(AFF).](b). 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. [1997, c. 429, Pt. A, §2(NEW); 1997, c. 429, Pt. A, §4(AFF).] [1997, c. 429, Pt. A, §2(NEW); 1997, c. 429, Pt. A, §4(AFF).]
(2). The warranties in subsection (1) are in addition to warranties arising under Articles 3-A, 4, 7-A and 8-A because of the presentation or transfer of documents covered by any of those Articles. [2009, c. 324, Pt. B, §25(AMD); 2009, c. 324, Pt. B, §48(AFF).]
1997, c. 429, §A2 (NEW) . 1997, c. 429, §A4 (AFF) . 2009, c. 324, Pt. B, §25 (AMD) . 2009, c. 324, Pt. B, §48 (AFF) .