DOCUMENTS OF TITLE
WAREHOUSE RECEIPTS AND BILLS OF LADING — NEGOTIATION AND TRANSFER
28-7-507. 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 28-7-508, 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.
[28-7-507, added 2004, ch. 42, sec. 2, p. 95.]