TITLE 28

COMMERCIAL TRANSACTIONS

CHAPTER 7

DOCUMENTS OF TITLE

PART 4.

WAREHOUSE RECEIPTS AND BILLS OF LADING — GENERAL OBLIGATIONS

28-7-401.  Irregularities in issue of receipt or bill or conduct of issuer. The obligations imposed by this chapter on an issuer apply to a document of title even if:

(1)  The document does not comply with the requirements of this chapter or of any other statute, rule, or regulation regarding its issuance, form, or content;

(2)  The issuer violated laws regulating the conduct of its business;

(3)  The goods covered by the document were owned by the bailee when the document was issued; or

(4)  The person issuing the document is not a warehouse but the document purports to be a warehouse receipt.

History:

[28-7-401, added 2004, ch. 42, sec. 2, p. 91.]