355.7 -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 KRS 355.7 -508, unless otherwise agreed, the transferor warrants to its immediate purchaser only in addition to any warranty made in selling or lea sing the goods 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. Effective: July 12, 2012 History: Repealed and reenacted 2012 Ky. Acts ch. 132, sec. 36, effective July 12, 2012. -- Created 1958 Ky. Acts ch. 77, sec. 7 -507, effective July 1, 1960.
Kentucky Legal Code