(810 ILCS 5/5-110) (from Ch. 26, par. 5-110)
Sec. 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 Section 5-109(a); and
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(2) to the applicant that the drawing does not
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| 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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(b) The warranties in subsection (a) are in addition to warranties
arising under Articles 3, 4, 7, and 8 because of the presentation or transfer
of
documents covered by any of those Articles.
(Source: P.A. 89-534, eff. 1-1-97.)
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