Iowa § 554.5110 Warranties

Iowa Statutes

§ 554.5110 — Warranties

Iowa § 554.5110

Title XIIICOMMERCE

Ch. 554UNIFORM COMMERCIAL CODE

This text of Iowa § 554.5110 (Warranties) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 554.5110 (2026).

Text

1.If its 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 section 554.5109, subsection 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 Articles 3, 4, 7,and8becauseofthepresentationortransferofdocumentscoveredbyanyofthoseArticles.

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1. If its 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 section 554.5109, subsection 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 Articles 3, 4,
7,and8becauseofthepresentationortransferofdocumentscoveredbyanyofthoseArticles.