(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.
Structure Florida Statutes
Title XXXIX - Commercial Relations
Chapter 677 - Uniform Commercial Code: Documents of Title
Part V - Warehouse Receipts and Bills of Lading: Negotiation and Transfer (Ss. 677.501-677.509)
677.501 - Form of negotiation and requirements of due negotiation.
677.502 - Rights acquired by due negotiation.
677.503 - Document of title to goods defeated in certain cases.
677.505 - Indorser not guarantor for other parties.
677.506 - Delivery without indorsement; right to compel indorsement.
677.507 - Warranties on negotiation or delivery of document of title.
677.508 - Warranties of collecting bank as to documents of title.