If a person negotiates or delivers a document of title for value, other than as a mere intermediary under AS 45.07.508 , unless otherwise agreed, the transferor, in addition to any warranty made in selling or leasing the goods, warrants to its immediate purchaser only that
(1) the document is genuine;
(2) the transferor does not have knowledge of a fact that would impair the document's validity or worth; and
(3) the negotiation or delivery is rightful and fully effective with respect to the title to the document and the goods it represents.
Section: Previous 45.07.501 45.07.502 45.07.503 45.07.504 45.07.505 45.07.506 45.07.507 45.07.508 45.07.509 NextLast modified: November 15, 2016