Del. Code tit. 6 § 7-507

Current through 2024 Legislative Session Act Chapter 269

Section 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 Section 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.

6 Del. C. § 7-507

5A Del. C. 1953, § 7-507; 55 Del. Laws, c. 349; 74 Del. Laws, c. 332, § 39.;