Where a person negotiates or transfers a document of title for value otherwise than as a mere intermediary under ORS 77.5080, then unless otherwise agreed the person warrants to the immediate purchaser only in addition to any warranty made in selling the goods:
(1) That the document is genuine; and
(2) That the person has no knowledge of any fact which would impair its validity or worth; and
(3) That the negotiation or transfer is rightful and fully effective with respect to the title to the document and the goods it represents. [1961 c.726 §77.5070]
Section: Previous 77.4030 77.4040 77.5010 77.5020 77.5030 77.5040 77.5050 77.5060 77.5070 77.5080 77.5090 77.6010 77.6020 77.6030 77.6040 NextLast modified: August 7, 2008