Iowa Code 554.7304 – Tangible bills of lading in a set
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Terms Used In Iowa Code 554.7304
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- 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.
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
554.7304 Tangible bills of lading in a set.
1. Except as customary in international transportation, a tangible bill of lading may not be
issued in a set of parts. The issuer is liable for damages caused by violation of this subsection.
2. If a tangible bill of lading is lawfully issued in a set of parts, each of which contains an identification code and is expressed to be valid only if the goods have not been delivered against any other part, the whole of the parts constitutes one bill.
3. If a tangible negotiable bill of lading is lawfully issued in a set of parts and different parts are negotiated to different persons, the title of the holder to which the first due negotiation is made prevails as to both the document of title and the goods even if any later holder may have received the goods from the carrier in good faith and discharged the carrier’s obligation by surrendering its part.
4. A person that negotiates or transfers a single part of a tangible bill of lading issued in a set is liable to holders of that part as if it were the whole set.
5. The bailee shall deliver in accordance with part 4 against the first presented part of a tangible bill of lading lawfully issued in a set. Delivery in this manner discharges the bailee’s obligation on the whole bill.
[S13, §3138-b5; C24, 27, 31, 35, 39, §8250; C46, 50, 54, 58, 62, §487.6; C66, 71, 73, 75, 77,
79, 81, §554.7304]
2007 Acts, ch 30, §20, 45, 46; 2017 Acts, ch 54, §64
1. Except as customary in international transportation, a tangible bill of lading may not be
issued in a set of parts. The issuer is liable for damages caused by violation of this subsection.
2. If a tangible bill of lading is lawfully issued in a set of parts, each of which contains an identification code and is expressed to be valid only if the goods have not been delivered against any other part, the whole of the parts constitutes one bill.
3. If a tangible negotiable bill of lading is lawfully issued in a set of parts and different parts are negotiated to different persons, the title of the holder to which the first due negotiation is made prevails as to both the document of title and the goods even if any later holder may have received the goods from the carrier in good faith and discharged the carrier’s obligation by surrendering its part.
4. A person that negotiates or transfers a single part of a tangible bill of lading issued in a set is liable to holders of that part as if it were the whole set.
5. The bailee shall deliver in accordance with part 4 against the first presented part of a tangible bill of lading lawfully issued in a set. Delivery in this manner discharges the bailee’s obligation on the whole bill.
[S13, §3138-b5; C24, 27, 31, 35, 39, §8250; C46, 50, 54, 58, 62, §487.6; C66, 71, 73, 75, 77,
79, 81, §554.7304]
2007 Acts, ch 30, §20, 45, 46; 2017 Acts, ch 54, §64