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.
Structure Maryland Statutes
Subtitle 5 - Warehouse Receipts and Bills of Lading: Negotiation and Transfer
Section 7-501 - Form of Negotiation and Requirements of "Due Negotiation"
Section 7-502 - Rights Acquired by Due Negotiation
Section 7-503 - Document of Title to Goods Defeated in Certain Cases
Section 7-505 - Indorser Not a Guarantor for Other Parties
Section 7-506 - Delivery Without Indorsement; Right to Compel Indorsement
Section 7-507 - Warranties on Negotiation or Transfer of Receipt or Bill
Section 7-508 - Warranties of Collecting Bank as to Documents
Section 7-509 - Receipt or Bill; When Adequate Compliance With Commercial Contract