§ 4-7-304 — Tangible bills of lading in a set

Colorado § 4-7-304

• Jurisdiction: Colorado
• Title 04: Uniform
• Art.: Documents of Title

Text

(a) Except as customary in
international transportation, a tangible bill of lading may not be issued in a set of
parts. The issuer is liable for damages caused by violation of this subsection (a).

(b) If a tangible bill of lading is lawfully issued in a set of parts, each of which
contains an identification code and is expressed to be valid only if the goods have
not been delivered against any other part, the whole of the parts constitutes one
bill.

(c) If a tangible negotiable bill of lading is lawfully issued in a set of parts
and different parts are negotiated to different persons, the title of the holder to
which the first due negotiation is made prevails as to both the document of title and
the goods even if any later holder may have received the goods from the carrier in
good faith and discharged the carrier's obligation by surrendering its part.

(d) A person that negotiates or transfers a single part of a tangible bill of
lading issued in a set is liable to holders of that part as if it were the whole set.

(e) The bailee shall deliver in accordance with part 4 of this article against
the first presented part of a tangible bill of lading lawfully issued in a set. Delivery
in this manner discharges the bailee's obligation on the whole bill.

Legislative History

Source: L. 2006: Entire article R&RE, p. 480, � 2, effective September 1. L. 2007: (e) amended, p. 370, � 13, effective August 3.