§ 810 ILCS 5/7-501 Form of negotiation and requirements of due negotiation
§ 810 ILCS 5/7-502 Rights acquired by due negotiation
§ 810 ILCS 5/7-503 Document of title to goods defeated in certain cases
§ 810 ILCS 5/7-504 Rights acquired in absence of due negotiation; effect of diversion; stoppage of delivery
§ 810 ILCS 5/7-505 Indorser not a guarantor for other parties
§ 810 ILCS 5/7-506 Delivery without indorsement: right to compel indorsement
§ 810 ILCS 5/7-507 Warranties on negotiation or delivery of document of title
§ 810 ILCS 5/7-508 Warranties of collecting bank as to documents of title
§ 810 ILCS 5/7-509 Adequate compliance with commercial contract
lawyer at desk

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Illinois Compiled Statutes > 810 ILCS 5 > Article 7 > Part 5 - Warehouse Receipts and Bills of Lading: Negotiation And Transfer

  • 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 Illinois Compiled Statutes 810 ILCS 5/7-102
  • Carrier: means a person that issues a bill of
    •     
    lading. See Illinois Compiled Statutes 810 ILCS 5/7-102
  • Consignee: means a person named in a bill of
    •     
    lading to which or to whose order the bill promises delivery. See Illinois Compiled Statutes 810 ILCS 5/7-102
  • Consignor: means a person named in a bill of
    •     
    lading as the person from which the goods have been received for shipment. See Illinois Compiled Statutes 810 ILCS 5/7-102
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Delivery order: means a record that contains an
    •     
    order to deliver goods directed to a warehouse, carrier, or other person that in the ordinary course of business issues warehouse receipts or bills of lading. See Illinois Compiled Statutes 810 ILCS 5/7-102
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Fraud: Intentional deception resulting in injury to another.
  • Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCC
  • Good faith: means honesty in fact and the
    •     
    observance of reasonable commercial standards of fair dealing. 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
  • individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
  • 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
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
  • Statute: A law passed by a legislature.
  • Warehouse: means a person engaged in the
    •     
    business of storing goods for hire. See Illinois Compiled Statutes 810 ILCS 5/7-102

    LawServer is used by

    New York Times, IRS, USDA, UCLA, DOT