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§ 7-507. Warranties on negotiation or delivery of documents of title

West's Annotated Code of MarylandCommercial Law

West's Annotated Code of Maryland
Commercial Law
Title 7. Documents of Title (Refs & Annos)
Subtitle 5. Warehouse Receipts and Bills of Lading: Negotiation and Transfer (Refs & Annos)
MD Code, Commercial Law, § 7-507
§ 7-507. Warranties on negotiation or delivery of documents of title
If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under § 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.

Credits

Added by Acts 2004, c. 95, § 2, eff. Oct. 1, 2004.
MD Code, Commercial Law, § 7-507, MD COML § 7-507
Current through legislation effective through June 1, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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