Md. Code, Com. § 7-507

Current with changes from the 2024 Legislative Session

Section 7-507 - Warranties on negotiation or transfer of receipt or bill

If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under § 7-508, 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.

Md. Code, CL § 7-507