8.5A-110 - A-110. Warranties. - Virginia Statutes

§ 8.5A-110. Warranties.

(a) If its presentation is honored, the beneficiary warrants:

(1) to the issuer, any other person to whom presentation is made, and theapplicant that there is no fraud or forgery of the kind described in §8.5A-109(a); and

(2) to the applicant that the drawing does not violate any agreement betweenthe applicant and beneficiary or any other agreement intended by them to beaugmented by the letter of credit.

(b) The warranties in subsection (a) are in addition to warranties arisingunder Titles 8.3A, 8.4, 8.7, and 8.8A because of the presentation or transferof documents covered by any of those titles.

(1997, c. 343.)