North Carolina General Statutes 25-7-401. Irregularities in issue of receipt or bill or conduct of issuer
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The obligations imposed by this Article on an issuer apply to a document of title even if:
(1) The document does not comply with the requirements of this Article or of any other statute, rule, or regulation regarding its issuance, form, or content;
Terms Used In North Carolina General Statutes 25-7-401
- 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 North Carolina General Statutes 25-7-102
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See North Carolina General Statutes 25-7-102
- 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 North Carolina General Statutes 25-7-102
- Statute: A law passed by a legislature.
- Warehouse: means a person engaged in the business of storing goods for hire. See North Carolina General Statutes 25-7-102
(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. (1917, c. 37, s. 20; 1919, c. 65, ss. 21, 22; C.S., ss. 303, 304, 4060; 1931, c. 358, s. 1; 1965, c. 700, s. 1; 2006-112, s. 25.)