2015 Utah Code
Title 70A - Uniform Commercial Code
Chapter 5 - Uniform Commercial Code - Letters of Credit
Section 110 - Warranties.

70A-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 Subsection 70A-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) are in addition to warranties arising under Title 70A, Chapter 3, Uniform Commercial Code - Negotiable Instruments, Chapter 4, Uniform Commercial Code - Bank Deposits and Collections, Chapter 7a, Uniform Commercial Code - Documents of Title, and Chapter 8, Uniform Commercial Code - Investment Securities, because of the presentation or transfer of documents covered by any of those chapters.

Amended by Chapter 42, 2006 General Session