1999 Minnesota Code
Chapters 324 - 338 Trade Regulations, Consumer Protection
Chapter 336 Uniform Commercial Code
Section 336.7-507 Warranties on negotiation or transfer of receipt or bill.
336.7-507 Warranties on negotiation or transfer of receipt or bill.
Where a person negotiates or transfers a document of title for value otherwise than as a mere intermediary under the next following section, then unless otherwise agreed the person warrants to the person's immediate purchaser only in addition to any warranty made in selling the goods
(a) that the document is genuine; and
(b) that the warrantor has no knowledge of any fact which would impair its validity or worth; and
(c) that the warrantor's negotiation or transfer is rightful and fully effective with respect to the title to the document and the goods it represents.
HIST: 1965 c 811 s 336.7-507; 1986 c 444
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