South Carolina Code 36-7-507. 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 § 36-7-508, then 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 South Carolina Code 36-7-507
- Document: means document of title as defined in the general definitions in Chapter 1 of this title. See South Carolina Code 36-7-102
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See South Carolina Code 36-7-102
(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.