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 Mississippi Code
Title 75 - Regulation of Trade, Commerce and Investments
Chapter 7 - Uniform Commercial Code-Documents of Title
Part 5 - . Warehouse Receipts and Bills of Lading: Negotiation and Transfer
§ 75-7-502. Rights acquired by due negotiation
§ 75-7-503. Document of title to goods defeated in certain cases
§ 75-7-505. Indorser not a guarantor for other parties
§ 75-7-506. Delivery without indorsement; right to compel indorsement
§ 75-7-507. Warranties on negotiation or delivery of document of title
§ 75-7-508. Warranties of collecting bank as to documents
§ 75-7-509. Receipt or bill: when adequate compliance with commercial contract