30-7-507. Warranties on negotiation or delivery of document of title.
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/mt/title-30/chapter-7/part-5/30-7-507·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
30-7-507 . 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 30-7-508 , unless otherwise agreed, the transferor warrants to its immediate purchaser only in addition to any warranty made in selling or leasing the goods 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.