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 § 3-417. [Cases: Banks and Banking 149, 174; Bills and Notes 296, 326. C.J.S. Banks and Banking §§ 416, 419, 421–434, 437–438; Bills and Notes; Letters of Credit […]