California · Commercial Code

COM §7507: If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under Section 7508, unless otherwise agreed, the transferor, in addition to any warranty made in

What this law says, in plain English

A person who negotiates or delivers a document of title for value, rather than as a mere intermediary, makes certain warranties to the transferee in addition to any other agreed warranties.

Read the full statutory text

If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under Section 7508, 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.

Verify at the official source: California legislative text

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