presentment warranty

presentment warranty

An implied promise concerning the title and credibility of an instrument, made to a payor or acceptor upon presentment of the instrument for payment or acceptance. UCC ¡ì 3-417. [Cases: Banks and Banking 149, 174; Bills and Notes 296, 326. C.J.S. Banks and Banking ¡ì¡ì 416, 419, 421¨C434, 437¨C438; Bills and Notes; Letters of Credit ¡ì¡ì 162¨C165.]
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