There is a newer version
of
this Section
2018 New Jersey Revised Statutes
Title 12A - COMMERCIAL TRANSACTIONS
Chapter 7
Section 12a:7-508 - Warranties of collecting bank as to documents
Universal Citation: NJ Rev Stat § 12a:7-508 (2018)
Section: 12A:7-508: Warranties of collecting bank as to documents
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.
L.1961, c. 120, s. 7-508.
Disclaimer: These codes may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
