30-7-508. 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: En. Sec. 7-508, Ch. 264, L. 1963; R.C.M. 1947, 87A-7-508; amd. Sec. 68, Ch. 575, L. 2005.
Structure Montana Code Annotated
Part 5. Warehouse Receipts and Bills of Lading Negotiation and Transfer
30-7-501. Form of negotiation and requirements of due negotiation
30-7-502. Rights acquired by due negotiation
30-7-503. Document of title to goods defeated in certain cases
30-7-505. Endorser not a guarantor for other parties
30-7-506. Delivery without endorsement -- right to compel endorsement
30-7-507. Warranties on negotiation or delivery of document of title
30-7-508. Warranties of collecting bank as to documents of title