§§ 400.7-507, RSMo

Current with changes from the 2024 Legislative Session

Section 400.7-507 - Warranties on negotiation or transfer of receipt or bill

If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under section 400.7-508, 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.

§§ 400.7-507, RSMo

Amended by 2017 Mo. Laws, HB 34,s A, eff. 8/28/2017.

L. 1963 p. 503 § 7-507