The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 2-506)
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§ 2—506. Rights of financing agency
(1) A financing agency by paying or purchasing for value a draft which relates to a shipment
of goods acquires to the extent of the payment or purchase and in addition to its
own rights under the draft and any document of title securing it any rights of the
shipper in the goods including the right to stop delivery and the shipper’s right
to have the draft honored by the buyer.
(2) The right to reimbursement of a financing agency which has in good faith honored or
purchased the draft under commitment to or authority from the buyer is not impaired
by subsequent discovery of defects with reference to any relevant document which was
apparently regular. (Amended 2015, No. 51, § B.5, eff. June 3, 2015.)