Vermont Statutes Title 9 Sec. 7-401
Terms Used In Vermont Statutes Title 9 Sec. 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: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
- Statute: A law passed by a legislature.
- Warehouse: means a person engaged in the business of storing goods for hire. See
§ 7—401. Irregularities in issue of receipt or bill or conduct of issuer
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;
(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. (Added 2015, No. 51, § B.3, eff. June 3, 2015.)