Cal. Com. Code § 7507

Current through the 2024 Legislative Session.

Section 7507 - 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 Section 7508, unless otherwise agreed, the transferor, in addition to any warranty made in selling or leasing the goods, warrants to its immediate purchaser only 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.

Ca. Com. Code § 7507

Added by Stats 2006 ch 254 (SB 1481),s 49, eff. 1/1/2007.