CHAPTER 5. Warehouse Receipts and Bills of Lading: Negotiation and Transfer

Chapter 5 added by Stats. 2006, Ch. 254, Sec. 49.

§§ 7501–7509 · 9 sections

• § 7501 (a) The following rules apply to a negotiable tangible document of title: (1) If the document’s original terms run to the order of a named person, the document…
• § 7502 (a) Subject to Sections 7205 and 7503, a holder to which a negotiable document of title has been duly negotiated acquires thereby: (1) title to the document;…
• § 7503 (a) A document of title confers no right in goods against a person that before issuance of the document had a legal interest or a perfected security interest…
• § 7504 (a) A transferee of a document of title, whether negotiable or nonnegotiable, to which the document has been delivered but not duly negotiated, acquires the…
• § 7505 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 endorsers.
• § 7506 The transferee of a negotiable tangible document of title has a specifically enforceable right to have its transferor supply any necessary indorsement, but the…
• § 7507 If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under Section 7508, unless otherwise agreed, the…
• § 7508 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…
• § 7509 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…