§ 6A-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 of Section.P.L. 2006, ch. 112, § 6; P.L. 2006, ch. 135, § 6.
Structure Rhode Island General Laws
Title 6A - Uniform Commercial Code
Chapter 6A-7 - Documents of Title
Part 5 - Warehouse Receipts and Bills of Lading: Negotiation and Transfer
Section 6A-7-501. - Form of negotiation and requirements of due negotiation.
Section 6A-7-502. - Rights acquired by due negotiation.
Section 6A-7-503. - Document of title to goods defeated in certain cases.
Section 6A-7-505. - Indorser not guarantor for other parties.
Section 6A-7-506. - Delivery without indorsement — Right to compel indorsement.
Section 6A-7-507. - Warranties on negotiation or delivery of document of title.
Section 6A-7-508. - Warranties of collecting bank as to documents of title.
Section 6A-7-509. - Adequate compliance with commercial contract.