Utah Code 70A-7a-507. Warranties on negotiation or delivery of document of title
Current as of: 2023 | Check for updates
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If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under Section 70A-7a-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. |
Enacted by Chapter 42, 2006 General Session