Code of Virginia - Title 8.7 Commercial Code - Warehouse Receipts, Bills Of Lading And Other Documents Of Title - Part 5 Warehouse Receipts And Bills Of Lading: Negotiation And Transfer

• 8.7-501 Form of negotiation and requirements of "due negotiation"
  (1) The following rules apply to a negotiable tangible document: (a) If the document's original terms run to the order of a named person, the ...
• 8.7-502 Rights acquired by due negotiation
  (1) Subject to §§ 8.7-205 and 8.7-503, a holder to whom a negotiable document has been duly negotiated acquires thereby: (a) title to the document; ...
• 8.7-503 Document to goods defeated in certain cases
  (1) A document confers no right in goods against a person who before issuance of the document had a legal interest or a perfected security ...
• 8.7-504 Rights acquired in the absence of due negotiation; effect of diversion; seller's stoppage of delive...
  (1) A transferee of a document, whether negotiable or nonnegotiable, to whom the document has been delivered but not duly negotiated, acquires the title and ...
• 8.7-505 Endorser not a guarantor for other parties
  The endorsement of a tangible document issued by a bailee does not make the endorser liable for any default by the bailee or by previous ...
• 8.7-506 Delivery without endorsement; right to compel endorsement
  The transferee of a negotiable document has a specifically enforceable right to have his transferor supply any necessary endorsement but the transfer becomes a negotiation ...
• 8.7-507 Warranties on negotiation or delivery of receipt or bill
  Where a person negotiates or delivers a document for value otherwise than as a mere intermediary under § 8.7-508, then, unless otherwise agreed, he warrants ...
• 8.7-508 Warranties of collecting bank as to documents
  A collecting bank or other intermediary known to be entrusted with documents on behalf of another or with collection of a draft or other claim ...
• 8.7-509 Receipt or bill; when adequate compliance with commercial contract
  Whether a document is adequate to fulfill the obligations of a contract for sale, a contract for lease, or the conditions of a letter of ...

Last modified: April 3, 2009