Colorado Code
Part 4 - Warehouse Receipts and Bills of Lading - General Obligations
§ 4-7-401. 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:




Source: L. 2006: Entire article R&RE, p. 483, § 2, effective September 1. L. 2007: (1) amended, p. 371, § 16, effective August 3.
Editor's note: This section is similar to former § 4-7-401 as it existed prior to 2006.
Prior Uniform Statutory Provision: Former Section 7-401.
Changes: Changes for style only.
Purposes:
The bailee's liability on its document despite non-receipt or misdescription of the goods is affirmed in Sections 7-203 and 7-301. The purpose of this section is to make it clear that regardless of irregularities a document which falls within the definition of document of title imposes on the issuer the obligations stated in this Article. For example, a bailee will not be permitted to avoid its obligation to deliver the goods (Section 7-403) or its obligation of due care with respect to them (Sections 7-204 and 7-309) by taking the position that no valid "document" was issued because it failed to file a statutory bond or did not pay stamp taxes or did not disclose the place of storage in the document. Tate v. Action Moving & Storage, Inc., 383 S.E.2d 229 (N.C. App. 1989), rev. denied 389 S.E.2d 104 (N.C. 1990). Sanctions against violations of statutory or administrative duties with respect to documents should be limited to revocation of license or other measures prescribed by the regulation imposing the duty. See Sections 7-103.
Cross References: Sections 7-103, 7-203, 7-204, 7-301, 7-309.
Definitional Cross References:
"Bailee". Section 7-102.
"Document of title". Section 1-201.
"Goods". Section 7-102.
"Issuer". Section 7-102.
"Person". Section 1-201.
"Warehouse receipt". Section 1-201.
"Warehouse". Section 7-102.

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