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2011 Ohio Revised Code
Title [13] XIII COMMERCIAL TRANSACTIONS - OHIO UNIFORM COMMERCIAL CODE
Chapter 1307: DOCUMENTS OF TITLE
1307.508 Warranties of collecting bank as to documents of title - UCC 7-508.


OH Rev Code § 1307.508 What's This?

Part 5. Warehouse Receipts and Bills of Lading: Negotiation and Transfer

A collecting bank or other intermediary known to be entrusted with documents of title on behalf of another or with collection of a draft or other claim against delivery of documents warrants by the delivery of the documents only its own good faith and authority even if the collecting bank or other intermediary has purchased or made advances against the claim or draft to be collected.

Renumbered from §1307.36 and amended by 129th General Assembly File No. 9, HB 9, § 1, eff. 6/29/2011.

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