Section 1307.507. Warranties on negotiation or delivery of document of title - UCC 7-507

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Part 5. Warehouse Receipts and Bills of Lading: Negotiation and Transfer
If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under section 1307.508 of the Revised Code, unless otherwise agreed , the transferor, in addition to any warranty made in selling or leasing the goods, warrants to its immediate purchaser only that:
(A) The document is genuine;
(B) The transferor does not have knowledge of any fact that would impair the document's validity or worth; and
(C) The negotiation or delivery is rightful and fully effective with respect to the title to the document and the goods it represents.

Renumbered from § 1307.35 and amended by 129th General AssemblyFile No.9, HB 9, §1, eff. 6/29/2011.

                    
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