Okla. Stat. tit. 12A, § 12A-7-203
This is the official text of Okla. Stat. tit. 12A, § 12A-7-203, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Liability for nonreceipt or misdescription
Official statutory text
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
such indication is true; or
(2) the party or purchaser otherwise has notice of the
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
such indication is true; or
(2) the party or purchaser otherwise has notice of the
nonreceipt or misdescription.
Status: in_force · Read it on the official government site
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