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2018 Georgia Code 11-7-507 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 11-7-507 Case Law from Google Scholar Amendments to OCGA 11-7-507

TITLE 11 COMMERCIAL CODE

Section 7. Warehouse Receipts, Bills of Lading, and Other Documents of Title, 11-7-101 through 11-7-603.

ARTICLE 7 WAREHOUSE RECEIPTS, BILLS OF LADING, AND OTHER DOCUMENTS OF TITLE

11-7-507. 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 Code Section 11-7-508, 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.

(Code 1933, § 109A-7 - 507, enacted by Ga. L. 1962, p. 156, § 1; Ga. L. 2010, p. 481, § 1-1/HB 451.)

The 2010 amendment, effective May 27, 2010, rewrote this Code section. See the Editor's notes for applicability.

Editor's notes.

- Ga. L. 2010, p. 481, § 3-1, not codified by the General Assembly, provides that: "This Act applies to a document of title that is issued or a bailment that arises on or after the effective date of this Act. This Act does not apply to a document of title that is issued or a bailment that arises before the effective date of this Act even if the document of title or bailment would be subject to this Act if the document of title had been issued or bailment had arisen on or after the effective date of this Act. This Act does not apply to a right of action that has accrued before the effective date of this Act." This Act became effective May 27, 2010.

Ga. L. 2010, p. 481, § 3-2, not codified by the General Assembly, provides that: "A document of title issued or a bailment that arises before the effective date of this Act and the rights, documents, and interests flowing from that document or bailment are governed by any statute or other rule amended or repealed by this Act as if such amendment or repeal had not occurred and may be terminated, completed, consummated, or enforced under that statute or other rule." This Act became effective May 27, 2010.

RESEARCH REFERENCES

Am. Jur. 2d.

- 15A Am. Jur. 2d, Commercial Code, § 67. 68A Am. Jur. 2d, Secured Transactions, § 109. 78 Am. Jur. 2d, Warehouses, § 71.

C.J.S.

- 13 C.J.S., Carriers, §§ 398-401. 80 C.J.S., Shipping, § 259. 93 C.J.S., Warehousemen and Safe Depositaries, § 41 et seq.

U.L.A.

- Uniform Commercial Code (U.L.A.) § 7-507.

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