RCW 62A.7-508: Warranties of collecting bank as to documents of title.

RCWs > Title 62A > Chapter 62A.7 > Section 62A.7-508

62A.7-507 << 62A.7-508 >> 62A.7-509

PDFRCW 62A.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.

[ 2012 c 214 § 608; 1965 ex.s. c 157 § 7-508. Cf. former RCW sections: (i) RCW 22.04.470; 1913 c 99 § 46; RRS § 3632. (ii) RCW 81.32.371; 1961 c 14 § 81.32.371; prior: 1915 c 159 § 37; RRS § 3683; formerly RCW 81.32.460.]

NOTES:

Application—Savings—2012 c 214: See notes following RCW 62A.1-101.