Indiana § 26-1-7-507 Warranties on negotiation or transfer of receipt or bill

Indiana Statutes

§ 26-1-7-507 — Warranties on negotiation or transfer of receipt or bill

Indiana § 26-1-7-507

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 7Documents of Title

This text of Indiana § 26-1-7-507 (Warranties on negotiation or transfer of receipt or bill) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 26-1-7-507 (2026).

Text

If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under section 508 of this chapter, 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 has no 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. Formerly: Acts 1963, c.317, s.7-507. As amended by P.L.152-1986, SEC.260; P.L.143-2007, SEC.58.

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If a person negotiates or delivers a
document of title for value, otherwise than as a mere intermediary
under section 508 of this chapter, 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 has no 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.
Formerly: Acts 1963, c.317, s.7-507. As amended by
P.L.152-1986, SEC.260; P.L.143-2007, SEC.58.