P.R. Laws tit. 10, § 434
2019-02-20 00:00:00+00
A person who, for value, negotiates or transfers a receipt by indorsement or delivery, including one who assigns for value, a claim secured by a receipt, unless a contrary intention appears, warrants:
(a) That the receipt is genuine;
(b) that he has a legal right to negotiate or transfer it;
(c) that he has knowledge of no fact which would impair the validity or worth of the receipt, and
(d) that he has a right to transfer the title to the goods and that the goods are merchantable or fit for a particular purpose whenever such warranties would have been implied, if the contract of the parties had been to transfer without a receipt the goods represented thereby.
History —Feb. 21, 1918, No. 9, p. 22, § 44.