Arkansas § 4-7-503 Document of title to goods defeated in certain cases

Arkansas Statutes

§ 4-7-503 — Document of title to goods defeated in certain cases

Arkansas § 4-7-503

Title4

This text of Arkansas § 4-7-503 (Document of title to goods defeated in certain cases) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 4-7-503 (2026).

Text

(a)A document of title confers no right in goods against a person that before issuance of the document had a legal interest or a perfected security interest in the goods and that did not:

(1)deliver or entrust the goods or any document of title covering the goods to the bailor or the bailor's nominee with:

(A)actual or apparent authority to ship, store, or sell;

(B)power to obtain delivery under § 4-7-403 ; or (C) power of disposition under § 4-2-403 , § 4-2A-304(2) , § 4-2A-305(2) , § 4-9-320 , or § 4-9-321(c) or other statute or rule of law; or (2) acquiesce in the procurement by the bailor or its nominee of any document.

(b)Title to goods based upon an unaccepted delivery order is subject to the rights of any person to which a negotiable warehouse receipt or bill of lading covering

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(a) A document of title confers no right in goods against a person that before issuance of the document had a legal interest or a perfected security interest in the goods and that did not: (1) deliver or entrust the goods or any document of title covering the goods to the bailor or the bailor's nominee with: (A) actual or apparent authority to ship, store, or sell; (B) power to obtain delivery under § 4-7-403 ; or (C) power of disposition under § 4-2-403 , § 4-2A-304(2) , § 4-2A-305(2) , § 4-9-320 , or § 4-9-321(c) or other statute or rule of law; or (2) acquiesce in the procurement by the bailor or its nominee of any document. (b) Title to goods based upon an unaccepted delivery order is subject to the rights of any person to which a negotiable warehouse receipt or bill of lading covering the goods has been duly negotiated. That title may be defeated under § 4-7-504 to the same extent as the rights of the issuer or a transferee from the issuer. (c) Title to goods based upon a bill of lading issued to a freight forwarder is subject to the rights of any person to which a bill issued by the freight forwarder is duly negotiated. However, delivery by the carrier in accordance with Part 4 pursuant to its own bill of lading discharges the carrier's obligation to deliver.