Commercial Code § 7508

CHAPTER 5. Warehouse Receipts and Bills of Lading: Negotiation and Transfer

Current as of September 28, 2026Com. Code, § 7508Official source ↗

Repealed and added by Stats. 2006, Ch. 254, Sec. 49. Effective January 1, 2007.

A collecting bank or other intermediary known to be entrusted with documents of title on behalf of another or with collection of a draft or other claim against delivery of documents warrants by the delivery of the documents only its own good faith and authority even if the collecting bank or other intermediary has purchased or made advances against the claim or draft to be collected.