§ 26-1-7-304 — Bills of lading in a set

Indiana § 26-1-7-304

• Jurisdiction: Indiana
• Title 26: COMMERCIAL LAW
• Art. 1: UNIFORM COMMERCIAL CODE
• Ch. 7: 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.
(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 (1) 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 sections 401 through
404 of this chapter 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.
Formerly: Acts 1963, c.317, s.7-304. As amended by
P.L.152-1986, SEC.252; P.L.143-2007, SEC.43.