California Commercial Code

§ 5110

COM § 5110 Effective Jan 1, 1997Div. 5

Statute text

(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 subdivision (a) of Section 5109; 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.

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Legislative history

Repealed and added by Stats. 1996, Ch. 176, Sec. 7. Effective January 1, 1997.