ABSTRACT
F. THE TRANSFEROR BY ENDORSEMENT OR BY MERE DELIVERY
1. Unless otherwise agreed, a person who transfers an instrument, by endorsement and delivery or by mere delivery, represents to the holder to whom he transfers the instrument that-
(a) the instrument does not bear any forged or unauthorised signature; (b) the instrument has not been materially altered; (c) at the time of transfer, he has no knowledge of any fact which
would impair the right of the transferee to payment of the instrument against the acceptor of a bill or, in the case of an unaccepted bill, the drawer, or against the maker of a note.
