Sec. 7404.
A bailee that in good faith has received goods and delivered or otherwise disposed of the goods according to the terms of a document of title or pursuant to this article is not liable for the goods even if any of the following apply:
(a) The person from which the bailee received the goods did not have authority to procure the document or to dispose of the goods.
(b) The person to which the bailee delivered the goods did not have authority to receive the goods.
History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 2012, Act 87, Eff. July 1, 2013
Structure Michigan Compiled Laws
Chapter 440 - Uniform Commercial Code
Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)
Article 7 - Warehouse Receipts, Bills of Lading and Other Documents of Title (440.7101...440.7702)
Section 440.7401 - Irregularities in Issue of Document of Title.
Section 440.7402 - Duplicate Document of Title; Overissue.
Section 440.7404 - Bailee's Delivery in Good Faith According to Document of Title.