77Transferor by delivery

#### 77 Transferor by delivery (1) A transferor by delivery is a holder of a cheque payable to bearer who transfers the cheque by negotiation without indorsing the cheque. (2) A transferor by delivery is not liable on the cheque. (3) Where the person to whom a transferor by delivery transfers the cheque by negotiation takes the cheque for value, the transferor by delivery warrants to the person: (a) that the cheque is what it purports to be; (b) that the transferor by delivery has the right to transfer the cheque by negotiation; and (c) that the transferor by delivery is not, at the time of the transfer, aware of any fact that renders the cheque valueless.