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General Laws

[ Text of section effective until July 1, 2013. For text effective July 1, 2013, see below.]

  Section 7-404. A bailee who in good faith including observance of reasonable commercial standards has received goods and delivered or otherwise disposed of them according to the terms of the document of title or pursuant to this Article is not liable therefor. This rule applies even though the person from whom he received the goods had no authority to procure the document or to dispose of the goods and even though the person to whom he delivered the goods had no authority to receive them.

Chapter 106: Section 7-404. No Liability For Good-Faith Delivery Pursuant To Document Of Title

[ Text of section as recodified by 2013, 30, Sec. 45 effective July 1, 2013 applicable as provided by 2013, 30, Sec. 116. For text effective until July 1, 2013, see above.]

  Section 7-404. 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.

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