§ 34.1-7-503 — Document of title to goods defeated in certain cases

Wyoming § 34.1-7-503

• Jurisdiction: Wyoming
• Title 34.1: Uniform Commercial Code
• Art. 6: BULK TRANSFERS

Text

(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:
(i) 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 W.S.
34.1-7-403; or
(C) Power of disposition under W.S. 34.1-2-403,
34.1-2.A-304(b), 34.1-2.A-305(b), 34.1-9-320, 34.1-9-321(c) or
other statute or rule of law; or
(ii) 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 W.S.
34.1-7-504 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 part 4 of
this title pursuant to its own bill of lading discharges the
carrier's obligation to deliver.