104.7507 - Warranties on negotiation or delivery of document of title. - Nevada Statutes

104.7507  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 NRS 104.7508, 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.

      (Added to NRS by 2005, 846)