2012 New York Consolidated Laws
UCC - Uniform Commercial Code
Article 5 - (5-101 - 5-120) LETTERS OF CREDIT
5-110 - Warranties.

 
  Section 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 subsection (a) of section 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.
    (b) The  warranties  in subsection (a) of this section 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.