CODE OF VIRGINIA

WARRANTIES ON NEGOTIATION OR DELIVERY OF RECEIPT OR BILL (§ 8.7-507)

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:

a. the document is genuine; and

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: Code 1950, § 61-47; 1964, c. 219; 2004, c. 200.