Ga. Code § 11-7-507

Current through 2023-2024 Legislative Session Chapter 709

Section 11-7-507 - 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 Code Section 11-7-508, 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.

OCGA § 11-7-507

Amended by 2010 Ga. Laws 470,§ 1-1, eff. 5/27/2010.