§ 6A-5-110. Warranties.
(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 § 6A-5-109(a); 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.
(b) The warranties in subsection (a) are in addition to warranties arising under chapters 3, 4, 7, and 8 of this title because of the presentation or transfer of documents covered by any of those chapters.
History of Section.P.L. 2000, ch. 182, § 4; P.L. 2000, ch. 420, § 4.
Structure Rhode Island General Laws
Title 6A - Uniform Commercial Code
Chapter 6A-5 - Letters of Credit
Section 6A-5-101. - Short title.
Section 6A-5-102. - Definitions.
Section 6A-5-104. - Formal requirements.
Section 6A-5-105. - Consideration.
Section 6A-5-106. - Issuance, amendment, cancellation, and duration.
Section 6A-5-107. - Confirmer, nominated person, and adviser.
Section 6A-5-108. - Issuer’s rights and obligations.
Section 6A-5-109. - Fraud and forgery.
Section 6A-5-110. - Warranties.
Section 6A-5-112. - Transfer of letter of credit.
Section 6A-5-113. - Transfer by operation of law.
Section 6A-5-114. - Assignment of proceeds.
Section 6A-5-115. - Statute of limitations.
Section 6A-5-116. - Choice of law and forum.
Section 6A-5-117. - Subrogation of issuer, applicant, and nominated person.
Section 6A-5-118. - Security interest of issuer or nominated person.