§ 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—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—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 […]
§ 7—401. Irregularities in issue of receipt or bill or conduct of issuer
§ 7—401. Irregularities in issue of receipt or bill or conduct of issuer The obligations imposed by this article on an issuer apply to a document of title even if: (1) the document does not comply with the requirements of this article or of any other statute, rule, or regulation regarding its issuance, form, or […]