Warranties

  1. Law
  2. Georgia Code
  3. Commercial Code
  4. Letters of Credit
  5. Warranties

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  1. 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 subsection (a) of Code Section 11-5-109; 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.
  2. The warranties in subsection (a) of this Code section are in addition to warranties arising under Articles 3, 4, 7, and 8 of this title because of the presentation or transfer of documents covered by any of those articles.

(Code 1981, §11-5-110, enacted by Ga. L. 2002, p. 995, § 1.)

RESEARCH REFERENCES

6A Am. Jur. Pleading and Practice Forms, Commercial Code, § 5:34.

U.L.A.

- Uniform Commercial Code (U.L.A.) § 5-110.


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