{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.2-506.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.2-506.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.2-506.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.2-506.html"}],"law_id":62064,"edition_id":1,"section_id":62064,"structure_id":15140,"section_number":"8.2-506","catch_line":"Rights of financing agency","history":"1964, c. 219; 2004, c. 200.","full_text":"1\n\nA 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.2\n\nThe 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.","order_by":null,"text":{"0":{"id":226477,"text":"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.","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"next_prefix":"2"},"1":{"id":226478,"text":"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.","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1"}},"ancestry":[{"id":15140,"edition_id":1,"name":"Performance","identifier":"5","label":"part","depth":2,"order_by":1,"parent_id":13346,"metadata":{},"date_created":"2026-06-26 03:52:28","date_modified":"2026-06-26 03:52:28","permalink":{"id":282137,"object_type":"structure","relational_id":15140,"identifier":"5","token":"8.2\/5","url":"\/8.2\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13346,"edition_id":1,"name":"Commercial Code - Sales","identifier":"8.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:41","date_modified":"2026-06-26 03:44:41","permalink":{"id":281931,"object_type":"structure","relational_id":13346,"identifier":"8.2","token":"8.2","url":"\/8.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":87157,"structure_id":15140,"section_number":"8.2-501","catch_line":"Insurable interest in goods; manner of identification of goods","url":"\/8.2-501\/","token":"8.2\/5\/8.2-501","metadata":false},{"id":73361,"structure_id":15140,"section_number":"8.2-502","catch_line":"Buyer's right to goods on seller's repudiation, failure to deliver, or insolvency","url":"\/8.2-502\/","token":"8.2\/5\/8.2-502","metadata":false},{"id":67744,"structure_id":15140,"section_number":"8.2-503","catch_line":"Manner of seller's tender of delivery","url":"\/8.2-503\/","token":"8.2\/5\/8.2-503","metadata":false},{"id":74031,"structure_id":15140,"section_number":"8.2-504","catch_line":"Shipment by seller","url":"\/8.2-504\/","token":"8.2\/5\/8.2-504","metadata":false},{"id":65205,"structure_id":15140,"section_number":"8.2-505","catch_line":"Seller's shipment under reservation","url":"\/8.2-505\/","token":"8.2\/5\/8.2-505","metadata":false},{"id":62064,"structure_id":15140,"section_number":"8.2-506","catch_line":"Rights of financing agency","url":"\/8.2-506\/","token":"8.2\/5\/8.2-506","metadata":false},{"id":72758,"structure_id":15140,"section_number":"8.2-507","catch_line":"Effect of seller's tender; delivery on condition","url":"\/8.2-507\/","token":"8.2\/5\/8.2-507","metadata":false},{"id":76776,"structure_id":15140,"section_number":"8.2-508","catch_line":"Cure by seller of improper tender or delivery; replacement","url":"\/8.2-508\/","token":"8.2\/5\/8.2-508","metadata":false},{"id":61950,"structure_id":15140,"section_number":"8.2-509","catch_line":"Risk of loss in the absence of breach","url":"\/8.2-509\/","token":"8.2\/5\/8.2-509","metadata":false},{"id":66339,"structure_id":15140,"section_number":"8.2-510","catch_line":"Effect of breach on risk of loss","url":"\/8.2-510\/","token":"8.2\/5\/8.2-510","metadata":false},{"id":75601,"structure_id":15140,"section_number":"8.2-511","catch_line":"Tender of payment by buyer; payment by check","url":"\/8.2-511\/","token":"8.2\/5\/8.2-511","metadata":false},{"id":76210,"structure_id":15140,"section_number":"8.2-512","catch_line":"Payment by buyer before inspection","url":"\/8.2-512\/","token":"8.2\/5\/8.2-512","metadata":false},{"id":66030,"structure_id":15140,"section_number":"8.2-513","catch_line":"Buyer's right to inspection of goods","url":"\/8.2-513\/","token":"8.2\/5\/8.2-513","metadata":false},{"id":57680,"structure_id":15140,"section_number":"8.2-514","catch_line":"When documents deliverable on acceptance; when on payment","url":"\/8.2-514\/","token":"8.2\/5\/8.2-514","metadata":false},{"id":79187,"structure_id":15140,"section_number":"8.2-515","catch_line":"Preserving evidence of goods in dispute","url":"\/8.2-515\/","token":"8.2\/5\/8.2-515","metadata":false}],"previous_section":{"id":65205,"structure_id":15140,"section_number":"8.2-505","catch_line":"Seller's shipment under reservation","url":"\/8.2-505\/","token":"8.2\/5\/8.2-505","metadata":false},"next_section":{"id":72758,"structure_id":15140,"section_number":"8.2-507","catch_line":"Effect of seller's tender; delivery on condition","url":"\/8.2-507\/","token":"8.2\/5\/8.2-507","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.2-506\/","history_text":"

This law was first created in 1964. The record of its establishment is cataloged in chapter 219 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1964 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2004, chapter 200<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":282159,"object_type":"law","relational_id":62064,"identifier":"8.2-506","token":"8.2\/5\/8.2-506","url":"\/8.2-506\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.2-506\/","token":"8.2\/5\/8.2-506","dublin_core":{"Title":"Rights of financing agency","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.2-506","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

1.<\/span> 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. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> 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<\/span> of defects with reference to any relevant document which was apparently regular. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nRIGHTS OF FINANCING AGENCY (\u00a7 8.2-506)\n\n1. A financing agency by paying or purchasing for value a draft which relates to\na shipment of goods acquires to the extent of the payment or purchase and in\naddition to its own rights under the draft and any document of title securing it\nany rights of the shipper in the goods including the right to stop delivery and\nthe shipper’s right to have the draft honored by the buyer.\n\n2. The right to reimbursement of a financing agency which has in good faith\nhonored or purchased the draft under commitment to or authority from the buyer\nis not impaired by subsequent discovery of defects with reference to any\nrelevant document which was apparently regular.\n\nHISTORY: 1964, c. 219; 2004, c. 200.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}