§ 70A-7a-501 Form of negotiation and requirements of due negotiation
§ 70A-7a-502 Rights acquired by due negotiation
§ 70A-7a-503 Document of title to goods defeated in certain cases
§ 70A-7a-504 Rights acquired in absence of due negotiation — Effect of diversion — Stoppage of delivery
§ 70A-7a-505 Indorser not guarantor for other parties
§ 70A-7a-506 Delivery without indorsement — Right to compel indorsement
§ 70A-7a-507 Warranties on negotiation or delivery of document of title
§ 70A-7a-508 Warranties of collecting bank as to documents of title
§ 70A-7a-509 Adequate compliance with commercial contract
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Terms Used In Utah Code > Title 70A > Chapter 7a > 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 Utah Code 70A-7a-102
  • Carrier: means a person that issues a bill of lading. See Utah Code 70A-7a-102
  • Consignee: means a person named in a bill of lading to which or to whose order the bill promises delivery. See Utah Code 70A-7a-102
  • Consignor: means a person named in a bill of lading as the person from which the goods have been received for shipment. See Utah Code 70A-7a-102
  • Contract: A legal written agreement that becomes binding when signed.
  • 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 Utah Code 70A-7a-102
  • Fraud: Intentional deception resulting in injury to another.
  • Good faith: means honesty in fact and the observance of reasonable commercial standards of fair dealing. See Utah Code 70A-7a-102
  • Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Utah Code 70A-7a-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 Utah Code 70A-7a-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.
  • Person: means :
         (24)(a) an individual;
         (24)(b) an association;
         (24)(c) an institution;
         (24)(d) a corporation;
         (24)(e) a company;
         (24)(f) a trust;
         (24)(g) a limited liability company;
         (24)(h) a partnership;
         (24)(i) a political subdivision;
         (24)(j) a government office, department, division, bureau, or other body of government; and
         (24)(k) any other organization or entity. See Utah Code 68-3-12.5
  • 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.
  • Statute: A law passed by a legislature.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • Warehouse: means a person engaged in the business of storing goods for hire. See Utah Code 70A-7a-102