New York Uniform Commercial Code Law Section 7-404 - No Liability for Good-Faith Delivery Pursuant to Document of Title.

Section 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.

Last modified: February 3, 2019