400.5-110. Warranties. - Missouri Statutes

Warranties.

400.5-110. (a) If its presentation is honored, the beneficiarywarrants:

(1) To the issuer, any other person to whom presentation is made, andthe applicant that there is no fraud or forgery of the kind described insection 400.5-109(a); and

(2) To the applicant that the drawing does not violate any agreementbetween the applicant and beneficiary or any other agreement intended bythem to be augmented by the letter of credit.

(b) The warranties in subsection (a) are in addition to warrantiesarising under articles 3, 4, 7 and 8 of this chapter because of thepresentation or transfer of documents covered by any of those articles.

(L. 1963 p. 503 § 5-110, A.L. 1997 S.B. 6)

*No continuity with § 400.5-110 as repealed by L. 1997 S.B. 6 § A.