Delaware Code Title 6 Sec. 7-401 – Irregularities in issue of receipt or bill or conduct of issuer
Current as of: 2023 | Check for updates
|
Other versions
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 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.
5A Del. C. 1953, §§ ?7-401; 55 Del. Laws, c. 349; 74 Del. Laws, c. 332, § ?39;
Terms Used In Delaware Code Title 6 Sec. 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 Delaware Code Title 6 Sec. 7-102
- Document: means :
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Delaware Code Title 6 Sec. 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 Delaware Code Title 6 Sec. 7-102
- Person: means a natural person, partnership (whether general or limited), limited liability company, trust (including a common law trust, business trust, statutory trust, voting trust or any other form of trust), estate, association (including any group, organization, co-tenancy, plan, board, council or committee), corporation, government (including a country, state, county or any other governmental subdivision, agency or instrumentality), custodian, nominee or any other individual or entity (or series thereof) in its own or any representative capacity, in each case, whether domestic or foreign. See Delaware Code Title 6 Sec. 17-101
- Statute: A law passed by a legislature.
- Warehouse: means a person engaged in the business of storing goods for hire. See Delaware Code Title 6 Sec. 7-102