65.A person who endorses a security certificate warrants to the purchaser for value and to any subsequent purchaser that
(1) the security certificate is neither forged nor counterfeited and has not been materially altered;
(2) the endorser does not know of any fact that might impair the validity of the security;
(3) there is no adverse claim to the security;
(4) the transfer does not violate any restriction on transfer;
(5) the endorsement is made by the appropriate person or, if the endorser is a representative of the appropriate person, the endorser has actual authority to act on behalf of the appropriate person; and
(6) the transfer is otherwise effective and rightful.