Warranties on negotiation or delivery of receipt or bill

Va. Code Ann. § 8.7-507, under Part 5. Warehouse Receipts and Bills of Lading: Negotiation and Transfer..

Va. Code Ann. § 8.7-507

Where a person negotiates or delivers a document for value otherwise than as a mere intermediary under § 8.7-508, then, unless otherwise agreed, he warrants to his immediate purchaser, in addition to any warranty made in selling or leasing the goods, that:

(a) the document is genuine; and

(b) he has no knowledge of any fact that would impair the document's validity or worth; and

(c) his negotiation or delivery is rightful and fully effective with respect to the title to the document and the goods it represents.