There is a newer version
of
this Section
2018 Idaho Statutes
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 5 - UNIFORM COMMERCIAL CODE — LETTERS OF CREDIT
Section 28-5-110 - WARRANTIES.
Universal Citation: ID Code § 28-5-110 (2018)
28-5-110. WARRANTIES. (1) If its presentation is honored, the beneficiary warrants:
(a) 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 28-5-109(1); and
(b) 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 (1) of this section are in addition to warranties arising under chapters 3, 4, 7 and 8, title 28, Idaho Code, because of the presentation or transfer of documents covered by any of those chapters.
History:
[28-5-110, added 1996, ch. 7, sec. 2, p. 14.]
Disclaimer: These codes may not be the most recent version. Idaho may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
