Com. Code, § 7508 · Chapter 5. Warehouse Receipts and Bills of Lading: Negotiation and Transfer
Com. Code, § 7508
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
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.
Notes and commentary — not statutory text
History
Repealed and added by Stats. 2006, Ch. 254, Sec. 49. Effective January 1, 2007.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=COM§ionNum=7508.
- Text hash
- sha256 47bcf9221a63dcf8214f4b75e04d3bf33ce068bb5f140450e1c9021066e934a4
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Cited by 1 provision
Provisions in this library whose text cites Com. Code, § 7508. Each shows the citation as that text prints it.
Commercial Code
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.