2010 Georgia Code 11-4-209 Case Law
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One Click Case Law for § 11-4-209
O.C.G.A. § 11-4-208 <-- --> O.C.G.A. §11-4-210



2010 Georgia Code

TITLE 11 - COMMERCIAL CODE
ARTICLE 4 - BANK DEPOSITS AND COLLECTIONS
PART 2 - COLLECTION OF ITEMS: DEPOSITARY AND COLLECTING BANKS
§ 11-4-209 - Encoding and retention warranties

O.C.G.A. 11-4-209 (2010)
11-4-209. Encoding and retention warranties


(a) A person who encodes information on or with respect to an item after issue warrants to any subsequent collecting bank and to the payor bank or other payor that the information is correctly encoded. If the customer of a depositary bank encodes, that bank also makes the warranty.

(b) A person who undertakes to retain an item pursuant to an agreement for electronic presentment warrants to any subsequent collecting bank and to the payor bank or other payor that retention and presentment of the item comply with the agreement. If a customer of a depositary bank undertakes to retain an item, that bank also makes this warranty.

(c) A person to whom warranties are made under this Code section and who took the item in good faith may recover from the warrantor as damages for breach of warranty an amount equal to the loss suffered as a result of the breach, plus expenses and loss of interest incurred as a result of the breach.

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Graham W. Syfert, Esq., P.A.
Phone: 904-383-7448
Fax: 904-638-4726

graham@syfert.com