47-7203. Liability for nonreceipt or misdescription
A party to or purchaser for value in good faith of a document of title, other than a bill of lading, that relies on the description of the goods in the document may recover from the issuer damages caused by the nonreceipt or misdescription of the goods, except to the extent that:
1. The document conspicuously indicates that the issuer does not know whether all or part of the goods in fact were received or conform to the description, such as a case in which the description is in terms of marks or labels or kind, quantity or condition or the receipt or description is qualified by " contents, condition and quality unknown" , " said to contain" or words of similar import, if the indication is true; or
2. The party or purchaser otherwise has notice of the nonreceipt or misdescription.
Section: Previous 47-7102 47-7103 47-7104 47-7105 47-7106 47-7201 47-7202 47-7203 47-7204 47-7205 47-7206 47-7207 47-7208 47-7209 47-7210 NextLast modified: October 13, 2016