Illinois Compiled Statutes 810 ILCS 5/7-401 – 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 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.

receipt, bill of lading, or other document of title acknowledges possession of goods and contracts to deliver them. See Illinois Compiled Statutes 810 ILCS 5/7-102

Goods: means all things that are treated as

movable for the purposes of a contract for storage or transportation. See Illinois Compiled Statutes 810 ILCS 5/7-102

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 Illinois Compiled Statutes 810 ILCS 5/7-102

Statute: A law passed by a legislature.

Warehouse: means a person engaged in the

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