Md. Code, Commercial Law § 5-110
This is the official text of Md. Code, Commercial Law § 5-110, part of Maryland’s Code, Commercial Law — governs commercial transactions - Maryland's version of the Uniform Commercial Code.
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§5–110.
Official statutory text
(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 § 5-109(a) of this title; 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 subsection (a) of this section are in addition to warranties arising under Titles 3, 4, 7, and 8 of this article because of the presentation or transfer of documents covered by any of those titles.
(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 § 5-109(a) of this title; 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 subsection (a) of this section are in addition to warranties arising under Titles 3, 4, 7, and 8 of this article because of the presentation or transfer of documents covered by any of those titles.
Status: in_force · Read it on the official government site
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