§ 7508. 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.
Cross References. Section 7508 is referred to in section 7507 of this title.
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 75 - Warehouse Receipts and Bills of Lading: Negotiation and Transfer
Section 7501 - Form of negotiation and requirements of due negotiation
Section 7502 - Rights acquired by due negotiation
Section 7503 - Document of title to goods defeated in certain cases
Section 7505 - Indorser not guarantor for other parties
Section 7506 - Delivery without indorsement; right to compel indorsement
Section 7507 - Warranties on negotiation or delivery of document of title
Section 7508 - Warranties of collecting bank as to documents of title