Section 7-507 - Warranties on negotiation or transfer of receipt or bill. - Maryland Statutes

§ 7-507. Warranties on negotiation or transfer of receipt or bill.
 

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

[2004, ch. 95, § 2.]