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Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 5. · Article 5. LETTERS OF CREDIT

11-5-110. Warranties.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. (a)

    If its presentation is honored, the beneficiary warrants:#

    1. (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 Code Section 11-5-109; and#

    2. (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.#

  2. (b)

    The warranties in subsection (a) of this Code section are in addition to warranties arising under Articles 3, 4, 7, and 8 of this title because of the presentation or transfer of documents covered by any of those articles.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 11-5-110, enacted by Ga. L. 2002, p. 995, § 1.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, pages 586 to 587; merge action: carried; file SHA-256 ad397fccbf21.