(1) A financing agency by paying or purchasing for value a draft which relates to a shipment of goods acquires to the extent of the payment or purchase and in addition to its own rights under the draft and any document of title securing it any rights of the shipper in the goods including the right to stop delivery and the shipper's right to have the draft honored by the buyer.
(2) The right to reimbursement of a financing agency which has in good faith honored or purchased the draft under commitment to or authority from the buyer is not impaired by subsequent discovery of defects with reference to any relevant document which was apparently regular.
Structure Delaware Code
§ 2-501. Insurable interest in goods; manner of identification of goods.
§ 2-502. Buyer's right to goods on seller's repudiation, failure to deliver, or insolvency.
§ 2-503. Manner of seller's tender of delivery.
§ 2-505. Seller's shipment under reservation.
§ 2-506. Rights of financing agency.
§ 2-507. Effect of seller's tender; delivery on condition.
§ 2-508. Cure by seller of improper tender or delivery; replacement.
§ 2-509. Risk of loss in the absence of breach.
§ 2-510. Effect of breach on risk of loss.
§ 2-511. Tender of payment by buyer; payment by check.
§ 2-512. Payment by buyer before inspection.
§ 2-513. Buyer's right to inspection of goods.
§ 2-514. When documents deliverable on acceptance; when on payment.