New Mexico § 55-7-404 No liability for good-faith delivery pursuant to document

New Mexico Statutes

§ 55-7-404 — No liability for good-faith delivery pursuant to document

New Mexico § 55-7-404

Ch. 55Uniform Commercial Code

Art. 7Documents of Title

This text of New Mexico § 55-7-404 (No liability for good-faith delivery pursuant to document) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 55-7-404 (2026).

Text

of title. A bailee that in good faith has received goods and delivered or otherwise disposed of the goods according to the terms of a document of title or pursuant to Chapter 55, Article 7 NMSA 1978 is not liable for the goods even if:

(1)the person from which the bailee received the goods did not have authority to procure the document or to dispose of the goods; or (2) the person to which the bailee delivered the goods did not have authority to receive the goods.

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of title. A bailee that in good faith has received goods and delivered or otherwise disposed of the goods according to the terms of a document of title or pursuant to Chapter 55, Article 7 NMSA 1978 is not liable for the goods even if: (1) the person from which the bailee received the goods did not have authority to procure the document or to dispose of the goods; or (2) the person to which the bailee delivered the goods did not have authority to receive the goods.