Wyoming § 34.1-2-506 Rights of financing agency

Wyoming Statutes

§ 34.1-2-506 — Rights of financing agency

Wyoming·Title 34.1 Uniform Commercial Code·Art. 2 SALES

(a)A financing agency by paying or purchasing for value a draft which relates to a shipment of goods acquires to the extent of the payment or purchase and in addition to its own rights under the draft and any document of title securing it any rights of the shipper in the goods including the right to stop delivery and the shipper's right to have the draft honored by the buyer.

(b)The right to reimbursement of a financing agency which has in good faith honored or purchased the draft under commitment to or authority from the buyer is not impaired by subsequent discovery of defects with reference to any relevant document which was apparently regular.

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(a) A financing agency by paying or purchasing for value a
draft which relates to a shipment of goods acquires to the
extent of the payment or purchase and in addition to its own
rights under the draft and any document of title securing it any
rights of the shipper in the goods including the right to stop
delivery and the shipper's right to have the draft honored by
the buyer.
(b) The right to reimbursement of a financing agency which
has in good faith honored or purchased the draft under
commitment to or authority from the buyer is not impaired by
subsequent discovery of defects with reference to any relevant
document which was apparently regular.

Wyoming § 34.1-2-506 (Rights of financing agency) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.