408.108 Warranties in direct holding.
76 words·~1 min read·
/wi/chapter-408/408-108A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
408.108 Warranties in direct holding.
(1)A person who transfers a certificated security to a purchaser for value warrants to the purchaser, and an endorser, if the transfer is by endorsement, warrants to any subsequent purchaser, that:
(a)The certificate is genuine and has not been materially altered;
(b)The transferor or endorser does not know of any fact that might impair the validity of the security;
(c)There is no adverse claim to the security;