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84-7-507. Warranties on negotiation or delivery of document of title. If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under K.S.A. 2023 Supp. 84-7-508, and amendments thereto, 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.

History: L. 2007, ch. 90, § 36; July 1, 2008.

KANSAS COMMENT, 1996

This section corresponds to former K.S.A. 82-144, and with one exception, noted below, is in accord with present K.S.A. 34-284. It is analogous to the warranty provisions in other articles of the Code dealing with transfer of negotiable paper for value. See 84-3-416 and 84-3-417, 84-4-207 and 84-4-208, 84-5-110 and 84-8-108 and 84-8-109. However, the warranties imposed by this section are limited to the immediate transferee and do not run with the document. In addition, the warranties imposed by this section are limited to the document. Warranties involving the goods are left to Article 2. See 84-2-312 through 84-2-318. However, under K.S.A. 34-284, the transferor of the document warrants that the grain is merchantable or fit for a particular purpose in any transfer in which those warranties would have applied if the goods alone were transferred. See 84-2-314 and 84-2-315.

Under K.S.A. 34-286, a pledgee or holder for security of a receipt representing grain who demands or receives payment of the underlying debt does not warrant either the genuineness of the receipt or the quantity or quality of the grain.

Revisor's Note:

Former section 84-7-507 repealed by L. 2007, ch. 90, § 78 and the number reassigned to the current text.


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