Michigan Compiled Laws 174-1962-7-5 Part 5 Warehouse Receipts And Bills Of Lading: Negotiation And Transfer (440.7501...440.7509)

• Section 440.7501 Negotiable Document Of Title; Indorsement; Notice Of Arrival.
  (1) All of the following rules apply to a negotiable tangible document of title: (a) If the document's original terms run to the order...
• Section 440.7502 Negotiation; Rights Acquired.
  (1) Subject to sections 7205 and 7503, a holder to which a negotiable document of title is duly negotiated acquires all of the following:...
• Section 440.7503 Documents Of Title To Goods; Defeat In Certain Cases.
  (1) A document of title confers no right in goods against a person that before issuance of the document had a legal interest or...
• Section 440.7504 Documents Of Title; Transfer By Delivery In Absence Of Due Negotiation; Effect; Defeat Of Transfer Rights; Diversion Or Change Of Shipping Instructions; Stoppage Of Delivery.
  (1) A transferee of a document of title, whether negotiable or nonnegotiable, to which the document has been delivered but not duly negotiated, acquires...
• Section 440.7505 Documents Of Title; Liability Of Indorser.
  The indorsement of a tangible document of title issued by a bailee does not make the indorser liable for any default by the bailee...
• Section 440.7506 Documents Of Title; Delivery Without Indorsement; Right To Have Indorsement Supplied.
  The transferee of a negotiable tangible document of title has a specifically enforceable right to have its transferor supply any necessary indorsement, but the...
• Section 440.7507 Documents Of Title; Warranties On Negotiation Or Delivery For Value.
  If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under section 7508, unless otherwise agreed,...
• Section 440.7508 Documents Of Title; Warranties Of Collecting Bank.
  A collecting bank or other intermediary known to be entrusted with documents of title on behalf of another or with collection of a draft...
• Section 440.7509 Documents Of Title; Adequacy As Contract For Sale, Lease, Or Conditions Of A Credit.
  Whether a document of title is adequate to fulfill the obligations of a contract for sale, a contract for lease, or the conditions of...

Last modified: October 10, 2016