Montana Code Annotated 2019

TITLE 30. TRADE AND COMMERCE

CHAPTER 7. UNIFORM COMMERCIAL CODE -- WAREHOUSE RECEIPTS, BILLS OF LADING, AND OTHER DOCUMENTS OF TITLE

Part 5. Warehouse Receipts and Bills of Lading Negotiation and Transfer

Warranties On Negotiation Or Delivery Of Document Of Title

30-7-507. Warranties on negotiation or delivery of document of title. If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under 30-7-508, unless otherwise agreed, the transferor warrants to its immediate purchaser only in addition to any warranty made in selling or leasing the goods that:

(1) the document is genuine;

(2) the transferor does not have knowledge of any fact that would impair the document's validity or worth; and

(3) the negotiation or delivery is rightful and fully effective with respect to the title to the document and the goods it represents.

History: En. Sec. 7-507, Ch. 264, L. 1963; R.C.M. 1947, 87A-7-507; amd. Sec. 67, Ch. 575, L. 2005.