Code of Virginia § 8.7-507. Warranties on negotiation or delivery of receipt or bill.

100 words·~1 min read·/va/title-8-7/chapter-5/8-7-507

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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 to his immediate purchaser, in addition to any warranty made in selling or leasing the goods, that:

(a)the document is genuine; and

(b)he has no knowledge of any fact that would impair the document's validity or worth; and

(c)his negotiation or delivery is rightful and fully effective with respect to the title to the document and the goods it represents.

Code 1950, § 61-47; 1964, c. 219; 2004, c. 200 .