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New Jersey Statutes, Title: 12A, COMMERCIAL TRANSACTIONS
Chapter 7:
Section: 12A:7-508: Warranties of collecting bank as to documents of title.
12A: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.
L.2013, c.65, s.2.
This section added to the Rutgers Database: 2013-06-22 15:32:28.
Older versions of 12a:7-508 (if available):
Court decisions that cite this statute:
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