§ 47-7-507. Warranties on Negotiation or Delivery of Document of Title
If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under § 47-7-508, unless otherwise agreed, the transferor, in addition to any warranty made in selling or leasing the goods, warrants to its immediate purchaser only that: The document is genuine; The transferor does not have knowledge […]
§ 47-7-508. Warranties of Collecting Bank as to Documents of Title
A collecting bank or other intermediary known to be entrusted with documents of title on behalf of another or with collection of a draft or other claim against delivery of documents warrants by the delivery of the documents only its own good faith and authority even if the collecting bank or other intermediary has purchased […]
§ 47-7-509. Adequate Compliance With Commercial Contract
Whether a document of title is adequate to fulfill the obligations of a contract for sale, a contract for lease, or the conditions of a letter of credit is determined by chapter 2, 2A, or 5 of this title.
§ 47-7-601. Lost, Stolen, or Destroyed Documents of Title
If a document of title is lost, stolen, or destroyed, a court may order delivery of the goods or issuance of a substitute document and the bailee may without liability to any person comply with the order. If the document was negotiable, a court may not order delivery of the goods or issuance of a […]
§ 47-7-602. Judicial Process Against Goods Covered by Negotiable Document of Title
Unless a document of title was originally issued upon delivery of the goods by a person that did not have power to dispose of them, a lien does not attach by virtue of any judicial process to goods in the possession of a bailee for which a negotiable document of title is outstanding unless possession […]
§ 47-7-603. Conflicting Claims — Interpleader
If more than one (1) person claims title to or possession of the goods, the bailee is excused from delivery until the bailee has a reasonable time to ascertain the validity of the adverse claims or to commence an action for interpleader. The bailee may assert an interpleader either in defending an action for nondelivery […]
§ 47-7-701. Effective Date
This chapter takes effect on July 1, 2008.
§ 47-7-702. Repeals
Existing chapter 7 and § 47-10-104 of the Uniform Commercial Code are repealed.
§ 47-7-703. Applicability
This chapter applies to a document of title that is issued or a bailment that arises on or after July 1, 2008. This chapter does not apply to a document of title that is issued or a bailment that arises before July 1, 2008, even if the document of title or bailment would be subject […]
§ 47-7-704. Savings Clause
A document of title issued or a bailment that arises before July 1, 2008 and the rights, obligations, and interests flowing from that document or bailment are governed by any statute or other rule amended or repealed by this chapter as if amendment or repeal had not occurred and may be terminated, completed, consummated, or […]