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2011 Florida Statutes

Title XXXIX COMMERCIAL RELATIONS
Chapter 675 UNIFORM COMMERCIAL CODE: LETTERS OF CREDIT Entire Chapter
SECTION 110
Warranties.
F.S. 675.110
675.110 Warranties.—
(1) If a beneficiary’s 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 s. 675.109(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 chapters 673, 674, 677, and 678 because of the presentation or transfer of documents covered by any of those chapters.
History.—s. 1, ch. 65-254; s. 1, ch. 99-137.
Note.—s. 5-110, U.C.C.