Transfer of Negotiable Documents of Title

Question 1

A person who negotiates a negotiable document of title for value extends what warranties to purchaser?

Answer 1

1) transferor is rightful and fully effective with respect to the goods it represents
2) transferor has no knowledge of any facts that would impair documents worth or credibility
3) The document is genuine

Question 2

A warehouse receipt

Answer 2

is a document issued as evidence of receipt by person in business of storing goods for hire

Question 3

Warehouse receipt is negotiable if

Answer 3

face of document contains words of negotiability (order or bearer)

Question 4

A warehouse receipt is not destroyed by

Answer 4

inclusion of contractual limitation on warehousemen’s liability.