Vermont Statutes Title 9 Sec. 7-403
Terms Used In Vermont Statutes Title 9 Sec. 7-403
- 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
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See
- Lien: A claim against real or personal property in satisfaction of a debt.
- 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: 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
- Warehouse: means a person engaged in the business of storing goods for hire. See
§ 7—403. Obligation of bailee to deliver; excuse
(a) A bailee shall deliver the goods to a person entitled under a document of title if the person complies with subsections (b) and (c) of this section, unless and to the extent that the bailee establishes any of the following:
(1) delivery of the goods to a person whose receipt was rightful as against the claimant;
(2) damage to or delay, loss, or destruction of the goods for which the bailee is not liable;
(3) previous sale or other disposition of the goods in lawful enforcement of a lien or on a warehouse‘s lawful termination of storage;
(4) the exercise by a seller of its right to stop delivery pursuant to section 2—705 of this title or by a lessor of its right to stop delivery pursuant to section 2A—526 of this title;
(5) a diversion, reconsignment, or other disposition pursuant to section 7—303 of this title;
(6) release, satisfaction, or any other personal defense against the claimant; or
(7) any other lawful excuse.
(b) A person claiming goods covered by a document of title shall satisfy the bailee’s lien if the bailee so requests or if the bailee is prohibited by law from delivering the goods until the charges are paid.
(c) Unless a person claiming the goods is a person against which the document of title does not confer a right under subsection 7—503(a) of this title:
(1) the person claiming under a document shall surrender possession or control of any outstanding negotiable document covering the goods for cancellation or indication of partial deliveries; and
(2) the bailee shall cancel the document or conspicuously indicate in the document the partial delivery or the bailee is liable to any person to which the document is duly negotiated. (Added 2015, No. 51, § B.3, eff. June 3, 2015.)