§490:7-507 Warranties on negotiation or delivery of document of title. If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under section 490:7-508, 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. [L 2004, c 163, pt of §1]
Section: Previous 490-7-404 490-7-501 490-7-502 490-7-503 490-7-504 490-7-505 490-7-506 490-7-507 490-7-508 490-7-509 490-7-601 490-7-602 490-7-603 490-7-701 490-7-702 NextLast modified: October 27, 2016