Section 1307.507 | Warranties on negotiation or delivery of document of title - UCC 7-507.
Warranties on negotiation or delivery of document of title [UCC 7-507]
If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under section 1307.508 of the Revised Code, unless otherwise agreed, the transferor, in addition to any warranty made in selling or leasing the goods, warrants to its immediate purchaser only that:
(A) The document is genuine;
(B) The transferor does not have knowledge of any fact that would impair the document's validity or worth; and
(C) The negotiation or delivery is rightful and fully effective with respect to the title to the document and the goods it represents.
Available Versions of this Section
- June 29, 2011 – House Bill 9, 129th General Assembly [ View June 29, 2011 Version ]