N.J.S.A. 12A:7-507 — Warranties on negotiation or delivery of document of title.

12A:7-507. Warranties on negotiation or delivery of document of title. 12A: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 12A: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. L.2013, c.65, s.2.

This is the verbatim text of N.J.S.A. 12A:7-507, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.