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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 1305.09 | Warranties - UCC 5-110.

Ohio Revised Code
/
Title 13 Commercial Transactions
/
Chapter 1305 Letters Of Credit
 
Effective:
July 1, 1998
Latest Legislation:
House Bill 338 - 122nd General Assembly
PDF:
Download Authenticated PDF
 

(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 division (A) of section 1305.08 of the Revised Code; 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 division (A) of this section are in addition to warranties arising under Chapters 1303., 1304., 1307., and 1308. of the Revised Code because of the presentation or transfer of documents covered by any of those chapters.

Available Versions of this Section