§ 7—602. Judicial process against goods covered by negotiable document of title
§ 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 […]
§ 7—603. Conflicting claims; interpleader
§ 7—603. Conflicting claims; interpleader If more than one 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 […]
§ 7—505. Indorser not guarantor for other parties
§ 7—505. Indorser not guarantor for other parties The indorsement of a tangible document of title issued by a bailee does not make the indorser liable for any default by the bailee or previous indorsers. (Added 2015, No. 51, § B.3, eff. June 3, 2015.)
§ 7—506. Delivery without indorsement: right to compel indorsement
§ 7—506. Delivery without indorsement: right to compel indorsement The transferee of a negotiable tangible document of title has a specifically enforceable right to have its transferor supply any necessary indorsement, but the transfer becomes a negotiation only as of the time the indorsement is supplied. (Added 2015, No. 51, § B.3, eff. June 3, […]
§ 7—507. Warranties on negotiation or delivery of document of title
§ 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 section 7—508 of this title, unless otherwise agreed, the transferor, in addition to any warranty made in selling or leasing the goods, warrants to its […]
§ 7—508. Warranties of collecting bank as to documents of title
§ 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 […]
§ 7—509. Adequate compliance with commercial contract
§ 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 Article 2, 2A, or 5 of this title. (Added 2015, No. 51, § B.3, eff. June 3, […]
§ 7—601. Lost, stolen, or destroyed documents of title
§ 7—601. Lost, stolen, or destroyed documents of title (a) 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 […]
§ 7—308. Enforcement of carrier’s lien
§ 7—308. Enforcement of carrier’s lien (a) A carrier’s lien on goods may be enforced by public or private sale of the goods, in bulk or in packages, at any time or place and on any terms that are commercially reasonable, after notifying all persons known to claim an interest in the goods. The notification […]
§ 7—309. Duty of care; contractual limitation of carrier’s liability
§ 7—309. Duty of care; contractual limitation of carrier’s liability (a) A carrier that issues a bill of lading, whether negotiable or nonnegotiable, shall exercise the degree of care in relation to the goods which a reasonably careful person would exercise under similar circumstances. This subsection does not affect any statute, regulation, or rule of […]