{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.7-508.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.7-508.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.7-508.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.7-508.html"}],"law_id":82645,"edition_id":1,"section_id":82645,"structure_id":15835,"section_number":"8.7-508","catch_line":"Warranties of collecting bank as to documents","history":"1964, c. 219.","full_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.","order_by":null,"text":{"0":{"id":296097,"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.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":15835,"edition_id":1,"name":"Warehouse Receipts and Bills of Lading: Negotiation and Transfer","identifier":"5","label":"part","depth":2,"order_by":1,"parent_id":13810,"metadata":{},"date_created":"2026-06-26 04:00:18","date_modified":"2026-06-26 04:00:18","permalink":{"id":283559,"object_type":"structure","relational_id":15835,"identifier":"5","token":"8.7\/5","url":"\/8.7\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13810,"edition_id":1,"name":"Commercial Code \u2014 Warehouse Receipts, Bills of Lading and Other Documents of Title","identifier":"8.7","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:45:56","date_modified":"2026-06-26 03:45:56","permalink":{"id":283429,"object_type":"structure","relational_id":13810,"identifier":"8.7","token":"8.7","url":"\/8.7\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":83251,"structure_id":15835,"section_number":"8.7-501","catch_line":"Form of negotiation and requirements of \"due negotiation\"","url":"\/8.7-501\/","token":"8.7\/5\/8.7-501","metadata":false},{"id":86028,"structure_id":15835,"section_number":"8.7-502","catch_line":"Rights acquired by due negotiation","url":"\/8.7-502\/","token":"8.7\/5\/8.7-502","metadata":false},{"id":61107,"structure_id":15835,"section_number":"8.7-503","catch_line":"Document to goods defeated in certain cases","url":"\/8.7-503\/","token":"8.7\/5\/8.7-503","metadata":false},{"id":83770,"structure_id":15835,"section_number":"8.7-504","catch_line":"Rights acquired in the absence of due negotiation; effect of diversion; seller's stoppage of delivery","url":"\/8.7-504\/","token":"8.7\/5\/8.7-504","metadata":false},{"id":67496,"structure_id":15835,"section_number":"8.7-505","catch_line":"Endorser not a guarantor for other parties","url":"\/8.7-505\/","token":"8.7\/5\/8.7-505","metadata":false},{"id":85687,"structure_id":15835,"section_number":"8.7-506","catch_line":"Delivery without endorsement; right to compel endorsement","url":"\/8.7-506\/","token":"8.7\/5\/8.7-506","metadata":false},{"id":73201,"structure_id":15835,"section_number":"8.7-507","catch_line":"Warranties on negotiation or delivery of receipt or bill","url":"\/8.7-507\/","token":"8.7\/5\/8.7-507","metadata":false},{"id":82645,"structure_id":15835,"section_number":"8.7-508","catch_line":"Warranties of collecting bank as to documents","url":"\/8.7-508\/","token":"8.7\/5\/8.7-508","metadata":false},{"id":72052,"structure_id":15835,"section_number":"8.7-509","catch_line":"Receipt or bill; when adequate compliance with commercial contract","url":"\/8.7-509\/","token":"8.7\/5\/8.7-509","metadata":false}],"previous_section":{"id":73201,"structure_id":15835,"section_number":"8.7-507","catch_line":"Warranties on negotiation or delivery of receipt or bill","url":"\/8.7-507\/","token":"8.7\/5\/8.7-507","metadata":false},"next_section":{"id":72052,"structure_id":15835,"section_number":"8.7-509","catch_line":"Receipt or bill; when adequate compliance with commercial contract","url":"\/8.7-509\/","token":"8.7\/5\/8.7-509","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.7-508\/","history_text":"<p>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.<\/p>","references":[{"id":73201,"section_number":"8.7-507","catch_line":"Warranties on negotiation or delivery of receipt or bill","order_by":null,"url":"\/8.7-507\/"}],"refers_to":false,"permalink":{"id":283589,"object_type":"law","relational_id":82645,"identifier":"8.7-508","token":"8.7\/5\/8.7-508","url":"\/8.7-508\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.7-508\/","token":"8.7\/5\/8.7-508","dublin_core":{"Title":"Warranties of collecting bank as to documents","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.7-508","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>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.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nWARRANTIES OF COLLECTING BANK AS TO DOCUMENTS (\u00a7 8.7-508)\n\nA collecting bank or other intermediary known to be entrusted with documents on\nbehalf of another or with collection of a draft or other claim against delivery\nof documents warrants by such delivery of the documents only its own good faith\nand authority. This rule applies even though the intermediary has purchased or\nmade advances against the claim or draft to be collected.\n\nHISTORY: 1964, c. 219.","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}}