677.507
Warranties on negotiation or delivery of document of title.
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677.507 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 the next following section, 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.
History.—s. 1, ch. 65-254; s. 643, ch. 97-102; s. 51, ch. 2010-131.
Note.—s. 7-507, U.C.C.; supersedes s. 678.46.
Notes of Decisions
Cited in 1
case (1 in the last 5 years), 2024–2024 · leading case: Certain Underwriters At Lloyds of London v. Scents Corporations
Certain Underwriters At Lloyds of London v. Scents Corporations (2024)
“§ 677.507 . Here, Benron and M&R made material misrepresentations in their bills of lading by misdescribing the goods loaded with the carrier as low-value “toiletry preparations” instead of high-value, high-end perfume products.”
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