Alabama Statutes
§ 7-7-508 — Warranties of Collecting Bank as to Documents of Title
Alabama § 7-7-508
JurisdictionAlabama
Title 7Commercial Code
Art. 7Warehouse Receipts, Bills of Lading and Other Documents of Title
Part 5Warehouse Receipts and Bills of Lading: Negotiation and Transfer
This text of Alabama § 7-7-508 (Warranties of Collecting Bank as to Documents of Title) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Ala. Code § 7-7-508 (2026).
Text
A collecting bank or other intermediary known to be entrusted with documents of title on behalf of another or with collection of a draft or other claim against delivery of documents warrants by the delivery of the documents only its own good faith and authority even if the collecting bank or other intermediary has purchased or made advances against the claim or draft to be collected.
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Legislative History
(Prior version of this section added by Acts 1965, No. 549, p. 811; repealed by Act 2004-315, p. 464, §1; current section added by Act 2004-315, p. 464, §1.)
Nearby Sections
15
§ 7-1-101
Short Titles§ 7-1-102
Scope of Article§ 7-1-104
Construction Against Implied Repeal§ 7-1-105
Severability§ 7-1-106
Use of Singular and Plural; Gender§ 7-1-107
Section Captions§ 7-1-109
Section Captions§ 7-1-201
General Definitions§ 7-1-202
Notice; Knowledge§ 7-1-204
Value§ 7-1-205
Reasonable Time; Seasonableness§ 7-1-206
PresumptionsCite This Page — Counsel Stack
Bluebook (online)
Alabama § 7-7-508, Counsel Stack Legal Research, https://law.counselstack.com/statute/al/7-7-508.