Code of Virginia

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Code of Virginia
Title 8.7. Commercial Code -- Warehouse Receipts, Bills of Lading and Other Documents of Title
Part 5. Warehouse Receipts and Bills of Lading: Negotiation and Transfer

§ 8.7-508. Warranties of collecting bank as to documents.

A collecting bank or other intermediary known to be entrusted with documents on behalf of another or with collection of a draft or other claim against delivery of documents warrants by such delivery of the documents only its own good faith and authority. This rule applies even though the intermediary has purchased or made advances against the claim or draft to be collected.

1964, c. 219.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.