Kentucky Statutes 355.7-404 – No liability for good faith delivery pursuant to document of title
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A bailee that in good faith has received goods and delivered or otherwise disposed of the goods according to the terms of a document of title or pursuant to this article is not liable for the goods even if:
(1) The person from which the bailee received the goods did not have authority to procure the document or to dispose of the goods; or
(2) The person to which the bailee delivered the goods did not have authority to receive the goods.
Effective: July 12, 2012
History: Repealed and reenacted 2012 Ky. Acts ch. 132, sec. 29, effective July 12,
2012. — Created 1958 Ky. Acts ch. 77, sec. 7-404, effective July 1, 1960.
(1) The person from which the bailee received the goods did not have authority to procure the document or to dispose of the goods; or
Terms Used In Kentucky Statutes 355.7-404
- 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 Kentucky Statutes 355.7-102
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Kentucky Statutes 355.7-102
(2) The person to which the bailee delivered the goods did not have authority to receive the goods.
Effective: July 12, 2012
History: Repealed and reenacted 2012 Ky. Acts ch. 132, sec. 29, effective July 12,
2012. — Created 1958 Ky. Acts ch. 77, sec. 7-404, effective July 1, 1960.