Virginia Statutes
§ 8.7-508 — Warranties of collecting bank as to documents
Virginia § 8.7-508
JurisdictionVirginia
Title 8.7COMMERCIAL CODE — WAREHOUSE RECEIPTS, BILLS OF LADING AND OTHER DOCUMENTS OF TITLE
Part 5WAREHOUSE RECEIPTS AND BILLS OF LADING: NEGOTIATION AND TRANSFER
This text of Virginia § 8.7-508 (Warranties of collecting bank as to documents) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Va. Code Ann. § 8.7-508 (2026).
Text
A collecting bank or other intermediary known to be entrusted with documents on behalf of another or with collection of a draft or other claim against delivery of documents warrants by such delivery of the documents only its own good faith and authority. This rule applies even though the intermediary has purchased or made advances against the claim or draft to be collected.
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Legislative History
1964, c. 219.
Nearby Sections
15
§ 8.7-101
Short title§ 8.7-102
Definitions and index of definitions§ 8.7-105
Repealed§ 8.7-105.1
Reissuance in alternative medium§ 8.7-106
Control of electronic document§ 8.7-208
Altered warehouse receiptsCite This Page — Counsel Stack
Bluebook (online)
Virginia § 8.7-508, Counsel Stack Legal Research, https://law.counselstack.com/statute/va/8.7/8.7-508.