N.Y. Uniform Commercial Code Law Section 7-507
Warranties on Negotiation or Delivery of Document of Title

Section 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 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.

Source: Section 7-507 — Warranties on Negotiation or Delivery of Document of Title, https://www.­nysenate.­gov/legislation/laws/UCC/7-507 (updated Dec. 26, 2014; accessed Oct. 26, 2024).

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Accessed:
Oct. 26, 2024

Last modified:
Dec. 26, 2014

§ 7-507’s source at nysenate​.gov

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