N.Y. U.C.C. 5-110

Section 5--110. Warranties.\n (a) If its presentation is honored, the beneficiary warrants:\n (1) To the issuer, any other person to whom presentation is made,\n and the applicant that there is no fraud or forgery of the\n kind described in subsection (a) of section 5--109; and\n (2) To the applicant that the drawing does not violate any\n agreement between the applicant and beneficiary or any other\n agreement intended by them to be augmented by the letter of\n credit.\n (b) The warranties in subsection (a) of this section are in addition\nto warranties arising under articles 3, 4, 7 and 8 because of the\npresentation or transfer of documents covered by any of those articles.\n