§ 8.7-601. Lost, stolen or destroyed documents
(1) If a document has been 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 such order. If the document was negotiable, a court may not order delivery of the goods or issuance of a […]
§ 8.7-602. Attachment of goods covered by a negotiable document
Except where the document was originally issued upon delivery of the goods by a person who had no power to dispose of them, no lien attaches by virtue of any judicial process to goods in the possession of a bailee for which a negotiable document is outstanding unless possession or control of the document is […]
§ 8.7-603. Conflicting claims; interpleader
If more than one person claims title or possession of the goods, the bailee is excused from delivery until he has had a reasonable time to ascertain the validity of the adverse claims or to bring an action for interpleader. The bailee may assert an interpleader either in defending an action for nondelivery of the […]
§ 8.7-505. Endorser not a guarantor for other parties
The endorsement of a tangible document issued by a bailee does not make the endorser liable for any default by the bailee or by previous endorsers. Code 1950, § 61-48; 1964, c. 219; 2004, c. 200.
§ 8.7-506. Delivery without endorsement; right to compel endorsement
The transferee of a negotiable document has a specifically enforceable right to have his transferor supply any necessary endorsement but the transfer becomes a negotiation only as of the time the endorsement is supplied. Code 1950, § 61-46; 1964, c. 219; 2004, c. 200.
§ 8.7-507. Warranties on negotiation or delivery of receipt or bill
Where a person negotiates or delivers a document for value otherwise than as a mere intermediary under § 8.7-508, then, unless otherwise agreed, he warrants to his immediate purchaser, in addition to any warranty made in selling or leasing the goods, that: (a) the document is genuine; and (b) he has no knowledge of any […]
§ 8.7-508. Warranties of collecting bank as to documents
A collecting bank or other intermediary known to be entrusted with documents on behalf of another or with collection of a draft or other claim against delivery of documents warrants by such delivery of the documents only its own good faith and authority. This rule applies even though the intermediary has purchased or made advances […]
§ 8.7-509. Receipt or bill; when adequate compliance with commercial contract
Whether a document is adequate to fulfill the obligations of a contract for sale, a contract for lease, or the conditions of a letter of credit is governed by the titles on sales (Title 8.2), leases (Title 8.2A), or letters of credit (Title 8.5A). 1964, c. 219; 2004, c. 200.
§ 8.7-502. Rights acquired by due negotiation
(1) Subject to §§ 8.7-205 and 8.7-503, a holder to whom a negotiable document has been duly negotiated acquires thereby: (a) title to the document; (b) title to the goods; (c) all rights accruing under the law of agency or estoppel, including rights to goods delivered to the bailee after the document was issued; and […]
§ 8.7-503. Document to goods defeated in certain cases
(1) A document confers no right in goods against a person who before issuance of the document had a legal interest or a perfected security interest in them and who neither: (a) delivered or entrusted them or any document covering them to the bailor or his nominee with (i) actual or apparent authority to ship, […]