Okla. Stat. tit. 12A, § 12A-7-507
This is the official text of Okla. Stat. tit. 12A, § 12A-7-507, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Warranties on negotiation or transfer of receipt or
Official statutory text
bill.
Warranties on Negotiation or Transfer of Receipt or Bill.
If a person negotiates or transfers a document of title for
value, otherwise than as a mere intermediary under Section 7-508 of
this title, unless otherwise agreed, the transferor, in addition to
any warranty made in selling or leasing the goods, warrants to its
immediate purchaser only 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 transfer is rightful and fully effective
with respect to the title to the document and the goods it
represents.
Warranties on Negotiation or Transfer of Receipt or Bill.
If a person negotiates or transfers a document of title for
value, otherwise than as a mere intermediary under Section 7-508 of
this title, unless otherwise agreed, the transferor, in addition to
any warranty made in selling or leasing the goods, warrants to its
immediate purchaser only 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 transfer is rightful and fully effective
with respect to the title to the document and the goods it
represents.
Status: in_force · Read it on the official government site
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