§ 6A-5-110 - Warranties. - Rhode Island Statutes

SECTION 6A-5-110

   § 6A-5-110  Warranties. – (a) If its presentation is honored, the beneficiary warrants:

   (1) To the issuer, any other person to whom presentation ismade, and the applicant that there is no fraud or forgery of the kind describedin § 6A-5-109(a); and

   (2) To the applicant that the drawing does not violate anyagreement between the applicant and beneficiary or any other agreement intendedby them to be augmented by the letter of credit.

   (b) The warranties in subsection (a) are in addition towarranties arising under chapters 3, 4, 7, and 8 of this title because of thepresentation or transfer of documents covered by any of those chapters.