Montana Code 30-7-401. Irregularities in issue of receipt or bill or conduct of issuer
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30-7-401. 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:
Terms Used In Montana Code 30-7-401
- Bailee: means a person that by a warehouse receipt, bill of lading, or other document of title acknowledges possession of goods and contracts to deliver them. See Montana Code 30-7-102
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Montana Code 30-7-102
- Issuer: means a bailee that issues a document of title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. See Montana Code 30-7-102
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Statute: A law passed by a legislature.
- Warehouse: means a person engaged in the business of storing goods for hire. See Montana Code 30-7-102
(1)the document does not comply with the requirements of this chapter or of any other statute, rule, or regulation regarding its issue, 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.