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 chapter is not liable for the goods even if:

1. (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. (2) the person to which the bailee delivered the goods did not have authority to receive the goods.

HISTORY: 1962 Code Section 10.7-404; 1966 (54) 2716; 2014 Act No. 213 (S.343), Section 2, eff October 1, 2014.

Editor's Note

2014 Act No. 213, Section 51, provides as follows:

"SECTION 51. This act becomes effective on October 1, 2014. It applies to transactions entered into and events occurring after that date."

Part 5

Warehouse Receipts and Bills of Lading: Negotiation and Transfer