New Mexico § 55-7-102 Definitions and index of definitions

New Mexico Statutes

§ 55-7-102 — Definitions and index of definitions

New Mexico § 55-7-102

Ch. 55Uniform Commercial Code

Art. 7Documents of Title

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Bluebook

N.M. Stat. Ann. § 55-7-102 (2026).

Text

(a)In Chapter 55, Article 7 NMSA 1978, unless the context otherwise requires:

(1)"bailee" means a person that by a warehouse receipt, bill of lading or other document of title acknowledges possession of goods and contracts to deliver them;

(2)"carrier" means a person that issues a bill of lading;

(3)"consignee" means a person named in a bill of lading to which or to whose order the bill promises delivery;

(4)"consignor" means a person named in a bill of lading as the person from which the goods have been received for shipment;

(5)"delivery order" means a record that contains an order to deliver goods directed to a warehouse, carrier or other person that in the ordinary course of business issues warehouse receipts or bills of lading;

(6)Reserved;

(7)"goods" means all things that are

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(a) In Chapter 55, Article 7 NMSA 1978, unless the context otherwise requires: (1) "bailee" means a person that by a warehouse receipt, bill of lading or other document of title acknowledges possession of goods and contracts to deliver them; (2) "carrier" means a person that issues a bill of lading; (3) "consignee" means a person named in a bill of lading to which or to whose order the bill promises delivery; (4) "consignor" means a person named in a bill of lading as the person from which the goods have been received for shipment; (5) "delivery order" means a record that contains an order to deliver goods directed to a warehouse, carrier or other person that in the ordinary course of business issues warehouse receipts or bills of lading; (6) Reserved; (7) "goods" means all things that are treated as movable for the purposes of a contract for storage or transportation; (8) "issuer" means a bailee that issues a document of title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. The term includes a person for which an agent or employee purports to act in issuing a document if the agent or employee has real or apparent authority to issue documents, even if the issuer did not receive any goods, the goods were misdescribed or in any other respect the agent or employee violated the issuer's instructions; (9) "person entitled under the document" means the holder, in the case of a negotiable document of title, or the person to which delivery of the goods is to be made by the terms of, or pursuant to instructions in a record under, a nonnegotiable document of title; (10) Reserved; (11) Reserved; (12) "shipper" means a person that enters into a contract of transportation with a carrier; and (13) "warehouse" means a person engaged in the business of storing goods for hire. (b) Definitions in other articles applying to this article and the sections in which they appear are: (1) "contract for sale", Section 55-2-106 NMSA 1978; (2) "lessee in the ordinary course of business", Section 55-2A-103 NMSA 1978; and (3) "receipt" of goods, Section 55-2-103 NMSA 1978. (c) In addition, Chapter 55, Article 1 NMSA 1978 contains general definitions and principles of construction and interpretation applicable throughout this article.