Sec. 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.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1, eff. Sept. 1, 1967.
Amended by:
Acts 2005, 79th Leg., Ch. 122 (S.B. 1593), Sec. 1, eff. September 1, 2005.
Structure Texas Statutes
Title 1 - Uniform Commercial Code
Chapter 7 - Documents of Title
Subchapter E. Warehouse Receipts and Bills of Lading: Negotiation and Transfer
Section 7.501. Form of Negotiation and Requirements of Due Negotiation
Section 7.502. Rights Acquired by Due Negotiation
Section 7.503. Document of Title to Goods Defeated in Certain Cases
Section 7.505. Indorser Not Guarantor for Other Parties
Section 7.506. Delivery Without Indorsement; Right to Compel Indorsement
Section 7.507. Warranties on Negotiation or Delivery of Document of Title
Section 7.508. Warranties of Collecting Bank as to Documents of Title