La. Stat. tit. 10 § 7-507

Current with operative changes from the 2024 Third Special Legislative Session

Section 10:7-507 - 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 R.S. 10:7-508, 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.

La. R.S. § 10:7-507

Added by Acts 1978, No. 164, §1, eff. 1/1/1979; Acts 2009, No. 207, §3, eff. 1/1/2010.