Missouri Laws 400.7-507 – Warranties on negotiation or transfer of receipt or bill
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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;
Terms Used In Missouri Laws 400.7-507
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
(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.