Is Cal. Com. Code § 5110 — LETTERS OF CREDIT still in force?

Statute · California Commercial Code

Cal. Com. Code § 5110 — LETTERS OF CREDIT

Cal. Com. Code § 5110

Type: Statute
Source: California Commercial Code
Jurisdiction: California
Date: 1997-01-01
Current through: Nov 2, 2026 (California Legislative Counsel)

(a) If its presentation is honored, the beneficiary warrants:

Citator

Cal. Com. Code § 5110 — LETTERS OF CREDIT is in force in the current edition of the Code, and nothing recorded condemns it.

(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 subdivision (a) of Section 5109; 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 subdivision (a) are in addition to warranties arising under Division 3 (commencing with Section 3101), Division 4 (commencing with Section 4101), Division 7 (commencing with Section 7101), and Division 8 (commencing with Section 8101) because of the presentation or transfer of documents covered by any of those divisions.