Ohio § 1305.09 Warranties - UCC 5-110

Ohio Statutes

§ 1305.09 — Warranties - UCC 5-110

Ohio § 1305.09

Title 13Commercial Transactions

Ch. 1305Letters Of Credit

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Bluebook

Ohio Rev. Code Ann. § 1305.09 (2026).

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 division (A) of section1305.08of 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.

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(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 section1305.08of 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.