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 chapter is not liable for the goods even if any of the following apply:

Terms Used In Wisconsin Statutes 407.404

  • 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 Wisconsin Statutes 407.102
  • Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
  • Good faith: means honesty in fact and the observance of reasonable commercial standards of fair dealing. See Wisconsin Statutes 407.102
  • Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Wisconsin Statutes 407.102
  • Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
   (1)   The person from which the bailee received the goods did not have authority to procure the document or to dispose of the goods.
   (2)   The person to which the bailee delivered the goods did not have authority to receive the goods.

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