Effective: June 29, 2011
Latest Legislation: House Bill 9 - 129th General Assembly
Warranties on negotiation or delivery of document of title [UCC 7-507]
If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under section 1307.508 of the Revised Code, unless otherwise agreed, the transferor, in addition to any warranty made in selling or leasing the goods, warrants to its immediate purchaser only that:
(A) The document is genuine;
(B) The transferor does not have knowledge of any fact that would impair the document's validity or worth; and
(C) The negotiation or delivery is rightful and fully effective with respect to the title to the document and the goods it represents.
Structure Ohio Revised Code
Title 13 | Commercial Transactions
Chapter 1307 | Documents of Title
Section 1307.101 | Short Title - Ucc 7-101.
Section 1307.102 | Definitions and Index of Definitions - Ucc 7-102.
Section 1307.103 | Relation of Chapter 1307. of the Revised Code to Treaty or Statute - Ucc 7-103.
Section 1307.104 | Negotiable and Nonnegotiable Document of Title - Ucc 7-104.
Section 1307.105 | Reissuance in Alternative Medium - Ucc 7-105.
Section 1307.106 | Control of Electronic Document of Title - Ucc 7-106.
Section 1307.201 | Person That May Issue a Warehouse Receipt; Storage Under Bond - Ucc 7-201.
Section 1307.202 | Form of Warehouse Receipt; Effect of Omission - Ucc 7-202.
Section 1307.203 | Liability for Nonreceipt or Misdescription - Ucc 7-203.
Section 1307.204 | Duty of Care; Contractual Limitation of Warehouse's Liability - Ucc 7-204.
Section 1307.205 | Title Under Warehouse Receipt Defeated in Certain Cases - Ucc 7-205.
Section 1307.206 | Termination of Storage at Warehouse's Option - Ucc 7-206.
Section 1307.207 | Goods Must Be Kept Separate; Fungible Goods - Ucc 7-207.
Section 1307.208 | Altered Warehouse Receipts - Ucc 7-208.
Section 1307.209 | Lien of Warehouse - Ucc 7-209.
Section 1307.210 | Enforcement of Warehouse's Lien - Ucc 7-210.
Section 1307.302 | Through Bills of Lading and Similar Documents of Title - Ucc 7-302.
Section 1307.303 | Diversion; Reconsignment; Change of Instructions - Ucc 7-303.
Section 1307.304 | Tangible Bills of Lading in a Set - Ucc 7-304.
Section 1307.305 | Destination Bills - Ucc 7-305.
Section 1307.306 | Altered Bills of Lading - Ucc 7-306.
Section 1307.307 | Lien of Carrier -Ucc 7-307.
Section 1307.308 | Enforcement of Carrier's Lien -Ucc 7-308.
Section 1307.309 | Duty of Care; Contractual Limitation of Carrier's Liability -Ucc 7-309.
Section 1307.401 | Irregularities in Issue of Receipt or Bill or Conduct of Issuer -Ucc 7-401.
Section 1307.402 | Duplicate Document of Title; Overissue - Ucc 7-402.
Section 1307.403 | Obligation of Bailee to Deliver; Excuse - Ucc 7-403.
Section 1307.404 | No Liability for Good-Faith Delivery Pursuant to Document of Title - Ucc 7-404.
Section 1307.501 | Form of Negotiation and Requirements of Due Negotiation - Ucc 7-501.
Section 1307.502 | Rights Acquired by Due Negotiation - Ucc 7-502.
Section 1307.503 | Document of Title to Goods Defeated in Certain Cases - Ucc 7-503.
Section 1307.505 | Indorser Not Guarantor for Other Parties - Ucc 7-505.
Section 1307.506 | Delivery Without Indorsement: Right to Compel Indorsement - Ucc 7-506.
Section 1307.507 | Warranties on Negotiation or Delivery of Document of Title - Ucc 7-507.
Section 1307.508 | Warranties of Collecting Bank as to Documents of Title - Ucc 7-508.
Section 1307.509 | Adequate Compliance With Commercial Contract - Ucc 7-509.
Section 1307.601 | Lost, Stolen, or Destroyed Documents of Title - Ucc 7-601.
Section 1307.603 | Conflicting Claims; Interpleader - Ucc 7-603.