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:
Source: L. 2006: Entire article R&RE, p. 488, § 2, effective September 1. L. 2007: IP amended, p. 373, § 22, effective August 3.
Editor's note: This section is similar to former § 4-7-507 as it existed prior to 2006.
Prior Uniform Statutory Provision: Former Section 7-507.
Changes: Substitution of the word "delivery" for the word "transfer," reference leasing transactions and style.
Purposes:
Cross References:
Point 1: Sections 2-312 through 2-318 and 2A-310-through 2A-316.
Point 2: Section 7-508.
Definitional Cross References:
"Delivery". Section 1-201.
"Document of title". Section 1-201.
"Genuine". Section 1-201.
"Goods". Section 7-102.
"Person". Section 1-201.
"Purchaser". Section 1-201.
"Value". Section 1-204.
Structure Colorado Code
Title 4 - Uniform Commercial Code
Article 7 - Documents of Title
Part 5 - Warehouse Receipts and Bills of Lading - Negotiation and Transfer
§ 4-7-501. Form of Negotiation and Requirements of Due Negotiation
§ 4-7-502. Rights Acquired by Due Negotiation
§ 4-7-503. Document of Title to Goods Defeated in Certain Cases
§ 4-7-505. Indorser Not Guarantor for Other Parties
§ 4-7-506. Delivery Without Indorsement - Right to Compel Indorsement
§ 4-7-507. Warranties on Negotiation or Delivery of Document of Title
§ 4-7-508. Warranties of Collecting Bank as to Documents of Title