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Section 7-7-507 - Warranties on negotiation or delivery of document of title.

AL Code § 7-7-507 (2019) (N/A)
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If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under Section 7-7-508, 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.

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Section 7-7-506 - Delivery without indorsement: right to compel indorsement.
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Section 7-7-508 - Warranties of collecting bank as to documents of title.