Section 355.7-507 - Warranties on negotiation or delivery of document of titleIf a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under KRS 355.7-508, unless otherwise agreed, the transferor warrants to its immediate purchaser only in addition to any warranty made in selling or leasing the goods 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.Repealed and reenacted by 2012 Ky. Acts ch. 132,§ 36, eff. 7/11/2012. Created 1958 Ky. Acts ch. 77, sec. 7-507, effective 7/1/1960.