If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under Section 7-508, 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. (1) The document is genuine;
2. (2) The transferor does not have knowledge of any fact that would impair the document’s validity or worth; and
3. (3) The negotiation or delivery is rightful and fully effective with respect to the title to the document and the goods it represents.

5A Del. C. 1953, §§ 7-507; 55 Del. Laws, c. 349; 74 Del. Laws, c. 332, § 39