11 M.R.S. §7-1507: 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 section 7‑1508, 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.