Maryland Code, COMMERCIAL LAW 7-401
Current as of: 2023 | Check for updates
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Terms Used In Maryland Code, COMMERCIAL LAW 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
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See
- 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
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- Statute: A law passed by a legislature.
- Warehouse: means a person engaged in the business of storing goods for hire. See
The obligations imposed by this title on an issuer apply to a document of title even if:
(1) The document does not comply with the requirements of this title or of any other statute, rule, or regulation regarding its issuance, form, or content;
(2) The issuer violated laws regulating the conduct of its business;
(3) The goods covered by the document were owned by the bailee when the document was issued; or
(4) The person issuing the document is not a warehouse but the document purports to be a warehouse receipt.