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California Commercial Code

§ 7508

COM § 7508 Effective Jan 1, 2007Div. 7 · Ch. 5

Statute text

View on leginfo.ca.gov
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.

Legislative history

Repealed and added by Stats. 2006, Ch. 254, Sec. 49. Effective January 1, 2007.

Source: California Commercial Code § 7508 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.