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If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under 12A:7-508, 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 delivery is rightful and fully effective with respect to the title to the document and the goods it represents.
Cite this article: FindLaw.com - New Jersey Statutes Title 12A. Commercial Transactions 12A § 7-507 - last updated February 19, 2021 | https://codes.findlaw.com/nj/title-12a-commercial-transactions/nj-st-sect-12a-7-507/
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