Rhode Island General Laws 6A-7-507. Warranties on negotiation or delivery of document of title
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If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under § 6A-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.
History of Section.
P.L. 2006, ch. 112, § 6; P.L. 2006, ch. 135, § 6.
Terms Used In Rhode Island General Laws 6A-7-507
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Rhode Island General Laws 6A-7-102
- person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6