New Jersey Statutes 12A:7-401. Irregularities in issue of receipt or bill or conduct of issuer
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Terms Used In New Jersey Statutes 12A: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 New Jersey Statutes 12A:7-102
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See New Jersey Statutes 12A: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 New Jersey Statutes 12A:7-102
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
- Statute: A law passed by a legislature.
- Warehouse: means a person engaged in the business of storing goods for hire. See New Jersey Statutes 12A:7-102
12A:7-401. Irregularities In Issue of Receipt or Bill or Conduct of Issuer.
The obligations imposed by this Chapter on an issuer apply to a document of title even if:
a. The document does not comply with the requirements of this Chapter or of any other statute, rule, or regulation regarding its issuance, form, or content;
b. The issuer violated laws regulating the conduct of its business;
c. The goods covered by the document were owned by the bailee when the document was issued; or
d. The person issuing the document is not a warehouse but the document purports to be a warehouse receipt.
L.2013, c.65, s.2.