Statute · New York Uniform Commercial Code

N.Y. U.C.C. Law § 7-507 — Warranties on Negotiation or Delivery of Document of Title

N.Y. U.C.C. Law § 7-507

Type: Statute
Source: New York Uniform Commercial Code
Jurisdiction: New York
Current through: Nov 5, 2026 (NY Senate Open Legislation)

Section 7--507. Warranties on Negotiation or Delivery of Document of

Citator

N.Y. U.C.C. Law § 7-507 — Warranties on Negotiation or Delivery of Document of Title is in force in the current edition of the Code, and nothing recorded condemns it.

Section 7--507. Warranties on Negotiation or Delivery of Document of

Title.

If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under Section 7--508, unless otherwise agreed, the transferor, in addition to any warranty made in selling or leasing the goods, warrants to its immediate purchaser only that:

(1) the document is genuine;

(2) the transferor does not have knowledge of any fact that would impair the document's validity or worth; and

(3) the negotiation or delivery is rightful and fully effective with respect to the title to the document and the goods it represents.