If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under Code Section 11-7-508, 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 any 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 11-7-501 11-7-502 11-7-503 11-7-504 11-7-505 11-7-506 11-7-507 11-7-508 11-7-509 NextLast modified: October 14, 2016