Colo. Rev. Stat. § 4-7-507

Current through Chapter 519 of the 2024 Legislative Session and Chapter 2 of the 2024 First Extraordinary Session

Section 4-7-507 - 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 section 4-7-508, 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.

C.R.S. § 4-7-507

L. 2006: Entire article R&RE, p. 488, § 2, effective September 1. L. 2007: IP amended, p. 373, § 22, effective August 3.

This section is similar to former § 4-7-507 as it existed prior to 2006.