ORS 75.1100
Warranties

(1)

If its presentation is honored, the beneficiary warrants:

(a)

To the issuer, any other person to whom presentation is made and to the applicant that there is no fraud or forgery of the kind described in ORS 75.1090 (Fraud and forgery) (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) of this section are in addition to warranties arising under ORS chapters 73, 74, 77 and 78 because of the presentation or transfer of documents covered by ORS chapters 73, 74, 77 and 78. [1961 c.726 §75.1100 (Warranties); 1997 c.150 §13]

Source: Section 75.1100 — Warranties, https://www.­oregonlegislature.­gov/bills_laws/ors/ors075.­html.

Green check means up to date. Up to date

Current through early 2024

§ 75.1100’s source at oregon​.gov