New Jersey § 12A:7-503 Document of title to goods defeated in certain cases.

New Jersey Statutes

§ 12A:7-503 — Document of title to goods defeated in certain cases.

New Jersey § 12A:7-503

Title 12ACOMMERCIAL TRANSACTIONS

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

Bluebook

N.J. Stat. Ann. § 12A:7-503 (2026).

Text

12A:7-503. Document of Title To Goods Defeated In Certain Cases. 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 12A:7-403; or (c) power of disposition under 12A:2-403, 12A:2A-304(2), 12A:2A-305(2), 12A:9-320, or 12A: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

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12A:7-503. Document of Title To Goods Defeated In Certain Cases. 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 12A:7-403; or (c) power of disposition under 12A:2-403, 12A:2A-304(2), 12A:2A-305(2), 12A:9-320, or 12A: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 12A: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 Subchapter 4 of this Chapter pursuant to its own bill of lading discharges the carrier's obligation to deliver. L.2013, c.65, s.2.