Section 7--401. Irregularities in Issue of Receipt or Bill or Conduct of Issuer. The obligations imposed by this Article on an issuer apply to a document of title regardless of the fact that

1. (a) the document may not comply with the requirements of this Article or of any other law or regulation regarding its issue, form or content; or
2. (b) the issuer may have violated laws regulating the conduct of his business; or
3. (c) the goods covered by the document were owned by the bailee at the time the document was issued; or
4. (d) the person issuing the document does not come within the definition of warehouseman if it purports to be a warehouse receipt.