Section 45.07.508. Warranties of collecting bank as to documents of title.

Latest version.

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.

Authorities

45.07.507

Notes

References

AS 45.07.507 Warranties on negotiation or delivery of document of title.

History

(Sec. 7.508 ch 114 SLA 1962; am Sec. 75 ch 44 SLA 2009)

                    
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