407.404 No liability for good faith delivery pursuant to document of title. 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 chapter is not liable for the goods even if any of the following apply:
(1) The person from which the bailee received the goods did not have authority to procure the document or to dispose of the goods.
(2) The person to which the bailee delivered the goods did not have authority to receive the goods.
History: 2009 a. 322.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 407 - Uniform commercial code — documents of title.
407.102 - Definitions and index of definitions.
407.103 - Relation of chapter to treaty or statute.
407.104 - Negotiable and nonnegotiable document of title.
407.105 - Reissuance in alternative medium.
407.106 - Control of electronic document of title.
407.201 - Person that may issue a warehouse receipt; storage under bond.
407.202 - Form of warehouse receipt.
407.203 - Liability for nonreceipt or misdescription.
407.204 - Duty of care; contractual limitation of warehouse's liability.
407.205 - Title under warehouse receipt defeated in certain cases.
407.206 - Termination of storage at warehouse's option.
407.207 - Goods must be kept separate; fungible goods.
407.208 - Altered warehouse receipts.
407.210 - Enforcement of warehouse's lien.
407.302 - Through bills of lading and similar documents of title.
407.303 - Diversion; reconsignment; change of instructions.
407.304 - Tangible bills of lading in a set.
407.306 - Altered bills of lading.
407.308 - Enforcement of carrier's lien.
407.309 - Duty of care; contractual limitation of carrier's liability.
407.401 - Irregularities in issue of receipt or bill or conduct of issuer.
407.402 - Duplicate document of title; overissue.
407.403 - Obligation of warehouse or carrier to deliver; excuse.
407.404 - No liability for good faith delivery pursuant to document of title.
407.501 - Form of negotiation and requirements of due negotiation.
407.502 - Rights acquired by due negotiation.
407.503 - Document of title to goods defeated in certain cases.
407.504 - Rights acquired in absence of due negotiation; effect of diversion; stoppage of delivery.
407.505 - Endorser not guarantor for other parties.
407.506 - Delivery without endorsement; right to compel endorsement.
407.507 - Warranties on negotiation or delivery of document of title.
407.508 - Warranties of collecting bank as to documents of title.
407.509 - Adequate compliance with commercial contract.
407.601 - Lost, stolen, or destroyed documents of title.
407.602 - Attachment of goods covered by negotiable document of title.