New Jersey Statutes 12A:7-404. No liability For good-faith delivery pursuant to document of title
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Terms Used In New Jersey Statutes 12A:7-404
- 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
- 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
12A:7-404. No Liability For Good-Faith Delivery Pursuant To Document of Title.
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 Chapter is not liable for the goods even if:
a. the person from which the bailee received the goods did not have authority to procure the document or to dispose of the goods; or
b. the person to which the bailee delivered the goods did not have authority to receive the goods.
L.2013, c.65, s.2.