28-7-508. WARRANTIES OF COLLECTING BANK AS TO DOCUMENTS OF TITLE. 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.
History:
[28-7-508, added 2004, ch. 42, sec. 2, p. 95.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 7 - DOCUMENTS OF TITLE
Part 5 - WAREHOUSE RECEIPTS AND BILLS OF LADING — NEGOTIATION AND TRANSFER
Section 28-7-501 - FORM OF NEGOTIATION AND REQUIREMENTS OF DUE NEGOTIATION.
Section 28-7-502 - RIGHTS ACQUIRED BY DUE NEGOTIATION.
Section 28-7-503 - DOCUMENT OF TITLE TO GOODS DEFEATED IN CERTAIN CASES.
Section 28-7-505 - INDORSER NOT GUARANTOR FOR OTHER PARTIES.
Section 28-7-506 - DELIVERY WITHOUT INDORSEMENT — RIGHT TO COMPEL INDORSEMENT.
Section 28-7-507 - WARRANTIES ON NEGOTIATION OR DELIVERY OF DOCUMENT OF TITLE.
Section 28-7-508 - WARRANTIES OF COLLECTING BANK AS TO DOCUMENTS OF TITLE.
Section 28-7-509 - ADEQUATE COMPLIANCE WITH COMMERCIAL CONTRACT.