2006 Minnesota Statutes

336.7-203 MS 2002 [Repealed, 2004 c 162 art 4 s 43]
336.7-203 LIABILITY FOR NONRECEIPT OR MISDESCRIPTION.
A party to or purchaser for value in good faith of a document of title, other than a bill of
lading, that relies upon the description of the goods in the document may recover from the issuer
damages caused by the nonreceipt or misdescription of the goods, except to the extent that:
(1) the document conspicuously indicates that the issuer does not know whether all or
part of the goods in fact were received or conform to the description, such as a case in which
the description is in terms of marks or labels or kind, quantity, or condition, or the receipt or
description is qualified by "contents, condition, and quality unknown," "said to contain," or words
of similar import, if the indication is true; or
(2) the party or purchaser otherwise has notice of the nonreceipt or misdescription.
History: 2004 c 162 art 4 s 9