1307.35 Warranties on negotiation or transfer of receipt or bill - UCC 7-507.
1307.35 Warranties on negotiation or transfer of receipt or bill - UCC 7-507.
Where a person negotiates or transfers a document of title for value otherwise than as a mere intermediary under section 1307.36 of the Revised Code, then unless otherwise agreed he warrants to his immediate purchaser only in addition to any warranty made in selling the goods:
(A) that the document is genuine; and
(B) that he has no knowledge of any fact which would impair its validity or worth; and
(C) that his negotiation or transfer is rightful and fully effective with respect to the title to the document and the goods it represents.
Effective Date: 07-01-1962