Virginia § 8.7-508 - Warranties of collecting bank as to documents
Full text of Virginia Code of Virginia § 8.7-508 — Warranties of collecting bank as to documents, with citation guidance and answers to common questions.
§ 8.7-508. Warranties of collecting bank as to documents
A collecting bank or other intermediary known to be entrusted with documents on behalf of another or with collection of a draft or other claim against delivery of documents warrants by such delivery of the documents only its own good faith and authority. This rule applies even though the intermediary has purchased or made advances against the claim or draft to be collected.
1964, c. 219.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 8.7-508
What does Code of Virginia § 8.7-508 cover?
Section 8.7-508 ("Warranties of collecting bank as to documents") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 8.7-508?
A common citation format is "Code of Virginia § 8.7-508" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 8.7-508 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.