(810 ILCS 5/7-404) (from Ch. 26, par. 7-404)
Sec. 7-404. No liability for good-faith delivery pursuant to document 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 this Article 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.
(Source: P.A. 95-895, eff. 1-1-09.)
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Last modified: February 18, 2015