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2019 Revised Code of Washington
Title 62A - Uniform Commercial Code
Chapter 62A.7 - Warehouse Receipts, Bills of Lading and Other Documents of Title.
62A.7-508 Warranties of collecting bank as to documents of title.
Universal Citation: WA Rev Code § 62A.7-508 (2019)
RCW 62A.7-508 Warranties of collecting bank as to documents of title.
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.
[ 2012 c 214 § 608; 1965 ex.s. c 157 § 7-508. Cf. former RCW sections: (i) RCW 22.04.470; 1913 c 99 § 46; RRS § 3632. (ii) RCW 81.32.371; 1961 c 14 § 81.32.371; prior: 1915 c 159 § 37; RRS § 3683; formerly RCW 81.32.460.]
NOTES:
Application—Savings—2012 c 214: See notes following RCW 62A.1-101.
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