Wis. Stat. § 407.507
Warranties on negotiation or delivery of document of title
Redline — January 1, 2003 → current.View current text →
Current — January 1, 2009
As of January 1, 2003
If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under s. 407.508 , unless otherwise agreed, the transferor warrants to its immediate purchaser only in addition to any warranty made in selling or leasing the goods that all of the following apply:
(1) That the document is genuine; and
(1) The document is genuine.
(2) That that person has no knowledge of any fact which would impair its validity or worth; and
(2) The transferor does not have knowledge of any fact that would impair the document's validity or worth.
(3) That that person's negotiation or transfer is rightful and fully effective with respect to the title to the document and the goods it represents.
(3) The negotiation or delivery is rightful and fully effective with respect to the title to the document and the goods it represents.
Official source: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.