Indiana Code
Chapter 7. Documents of Title
26-1-7-508. Warranties of Collecting Bank as to Documents

Sec. 508. 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 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.
Formerly: Acts 1963, c.317, s.7-508. As amended by P.L.143-2007, SEC.59.

Structure Indiana Code

Indiana Code

Title 26. Commercial Law

Article 1. Uniform Commercial Code

Chapter 7. Documents of Title

26-1-7-101. Short Title

26-1-7-102. Definitions and Index of Definitions

26-1-7-103. Relation of Chapter to Other Laws

26-1-7-104. Negotiable and Nonnegotiable Warehouse Receipt, Bill of Lading, and Other Document of Title

26-1-7-105. Tangible Substitute for Electronic Document of Title

26-1-7-106. Control of Electronic Document of Title

26-1-7-201. Who May Issue a Warehouse Receipt; Storage Under Government Bond

26-1-7-202. Form of Warehouse Receipt; Essential Terms; Optional Terms

26-1-7-203. Liability for Nonreceipt or Misdescription

26-1-7-204. Duty of Care; Contractual Limitation of Warehouse's Liability

26-1-7-205. Title Under Warehouse Receipt Defeated in Certain Cases

26-1-7-206. Termination of Storage at Warehouse's Option

26-1-7-207. Goods Must Be Kept Separate; Fungible Goods

26-1-7-208. Altered Warehouse Receipts

26-1-7-209. Warehouse Lien

26-1-7-210. Enforcement of Warehouse's Lien

26-1-7-301. Liability for Nonreceipt or Misdescription; "Said to Contain"; "Shipper's Load and Count"; Improper Handling

26-1-7-302. Through Bills of Lading and Similar Documents

26-1-7-303. Diversion; Reconsignment; Change of Instructions

26-1-7-304. Bills of Lading in a Set

26-1-7-305. Destination Bills

26-1-7-306. Altered Bills of Lading

26-1-7-307. Lien of Carrier

26-1-7-308. Enforcement of Carrier's Lien

26-1-7-309. Duty of Care; Contractual Limitation of Carrier's Liability

26-1-7-401. Irregularities in Issue of Receipt or Bill or Conduct of Issuer

26-1-7-402. Duplicate Receipt or Bill; Overissue

26-1-7-403. Obligation of Warehouse or Carrier to Deliver; Excuse

26-1-7-404. No Liability for Good Faith Delivery Upon Receipt or Bill

26-1-7-501. Form of Negotiation and Requirements of "Due Negotiation"

26-1-7-502. Rights Acquired by Due Negotiation

26-1-7-503. Form of Negotiation and Requirements of "Due Negotiation"

26-1-7-504. Rights Acquired in the Absence of Due Negotiation; Effect of Diversion; Seller's Stoppage of Delivery

26-1-7-505. Endorser Not a Guarantor for Other Parties

26-1-7-506. Delivery Without Endorsement; Right to Compel Endorsement

26-1-7-507. Warranties on Negotiation or Transfer of Receipt or Bill

26-1-7-508. Warranties of Collecting Bank as to Documents

26-1-7-509. Receipt or Bill; When Adequate to Comply With Commercial Contract

26-1-7-601. Lost and Missing Documents

26-1-7-602. Attachment of Goods Covered by a Negotiable Document

26-1-7-603. Conflicting Claims; Interpleader