R.I. Gen. Laws § 6A-7-507

Current through 2024 Public Law 457

Section 6A-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 § 6A-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.

R.I. Gen. Laws § 6A-7-507

P.L. 2006, ch. 112, § 6; P.L. 2006, ch. 135, § 6.