Illinois § 7-401

Illinois Statutes

§ 7-401

Illinois·Topic BUSINESS AND EMPLOYMENT·Ch. 810 COMMERCIAL CODE·Act 810 ILCS 5/ Uniform Commercial Code.·Art. Article 7 - Documents of Title

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:

(1)the document does not comply with the requirements of this Article or of any other statute, rule, or regulation regarding its issuance, form, or content;

(2)the issuer violated laws regulating the conduct of its business;

(3)the goods covered by the document were owned by the bailee when the document was issued; or (4) the person issuing the document is not a warehouse but the document purports to be a warehouse receipt.

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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: (1) the document does not comply with the requirements of this Article or of any other statute, rule, or regulation regarding its issuance, form, or content; (2) the issuer violated laws regulating the conduct of its business; (3) the goods covered by the document were owned by the bailee when the document was issued; or (4) the person issuing the document is not a warehouse but the document purports to be a warehouse receipt.

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