§ 8.7-507 Warranties on negotiation or delivery of receipt or bill
Where a person negotiates or delivers a document for value otherwise than as a mere intermediary under § 8.7-508, then, unless otherwise agreed, he warrants to his immediate purchaser, in addition to any warranty made in selling or leasing the goods, that:
b. he has no knowledge of any fact that would impair the document’s validity or worth; and
c. his negotiation or delivery is rightful and fully effective with respect to the title to the document and the goods it represents.
History
The record of this law’s original creation isn’t available online. It has been modified 2 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1964, chapter 219; in 2004, chapter 200.
Code 1950, § 61-47; 1964, c. 219; 2004, c. 200.