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UTAH STATUTES AND CODES
70A-7a-507 - Warranties on negotiation or delivery of document of title.
70A-7a-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 mereintermediary under Section 70A-7a-508, unless otherwise agreed, the transferor, in addition toany 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'svalidity or worth; and
(3) the negotiation or delivery is rightful and fully effective with respect to the title to thedocument and the goods it represents.
If a person negotiates or delivers a document of title for value, otherwise than as a mereintermediary under Section 70A-7a-508, unless otherwise agreed, the transferor, in addition toany 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'svalidity or worth; and
(3) the negotiation or delivery is rightful and fully effective with respect to the title to thedocument and the goods it represents.
Enacted by Chapter 42, 2006 General Session
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