Tennessee § 47-7-507 Warranties on negotiation or delivery of document of title

Tennessee Statutes

§ 47-7-507 — 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 mere intermediary under § 47-7-508 , 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.

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If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under § 47-7-508 , 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.

Tennessee § 47-7-507 (Warranties on negotiation or delivery of document of title) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.